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Golden Dory Increases Resource Estimate at 100% Brady Gold Project;
(via Thenewswire.ca) 60% increase in contained ounces GANDER, NEWFOUNDLAND - Septemb...
About this update from Pirate Gold Corp
[{"type":"text","content":"Golden Dory Increases Resource Estimate at 100% Brady Gold Project;(via Thenewswire.ca)\n \n \n60% increase in contained ounces\n\n \n \nGANDER, NEWFOUNDLAND - September 4, 2013 - Golden Dory Resources Corp.(\"Golden Dory\") is pleased to announce an updated NI 43-101 resource estimate for the 100% owned Brady Project in central Newfoundland, approximately 50 kilometers south of the town of Grand Falls - Windsor. The revised resource, prepared by Giroux Consultants, estimates that the Reid Zone contains an Inferred resource of 9,570,000 tonnes averaging 0.56 g/t gold for 173,000 ounces gold at a cutoff of 0.30 g/t gold. This represents a 60% increase in contained ounces from the original estimate completed in 2010. To date no economic assessment or scoping study of the Reid Zone has been performed, therefore a range of cutoff values have been provided. At present the Company has no plans to conduct exploration at Brady and is open to potential offers of interest in this project. \n\n \n \nBrady Inferred Resource within the Mineralized Solid\n\n\n \n\n --------------------------------------------------------\n |Au Cut-off|Tonnes > Cut-off|Grade  > Cut-off|Contained|\n |(g/t) |(tonnes) |Au (g/t) |Ounces Au|\n |------------------------------------------------------|\n |0.10 |11,540,000 |0.50 |187,000 |\n |------------------------------------------------------|\n |0.20 |10,860,000 |0.52 |183,000 |\n |------------------------------------------------------|\n |0.30 |9,570,000 |0.56 |173,000 |\n |------------------------------------------------------|\n |0.40 |7,280,000 |0.63 |147,000 |\n |------------------------------------------------------|\n |0.50 |5,230,000 |0.70 |117,000 |\n --------------------------------------------------------\n\n \n \nThe Reid Zone is a potentially open pit mineable, intrusion hosted system that has been tested by only 21 holes over a strike length of 300 meters, a width of 200 meters, and to a depth of about 250 meters. The deposit is exposed, and is nearly flat lying with a gentle southerly dip and is open for expansion. The property has partial road access and is proximal to key infrastructure, power and labour. The mineralization at Brady shares characteristics similar to the intrusion hosted Fort Knox gold deposit in Alaska (Kinross Gold Corporation). which hosts bulk tonnage, open pit minea...