Business
San Gold Announces a 60% Increase in Mineral Reserves
San Gold Announces a 60% Increase in Mineral Reserves.
About this update from San Gold Corporation
[{"type":"text","content":"\n \n \n San Gold Announces a 60% Increase in Mineral Reserves\n \n \nSan Gold Announces a 60% Increase in Mineral Reserves\n \n WINNIPEG, MANITOBA--(Marketwired - Feb 20, 2014) - San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) today announced an updated mineral reserve and resource estimate for its Rice Lake Mining Complex.\n During 2013, extensive definition drilling and detailed mine planning to integrate the Hinge, 007 and Rice Lakes mines resulted in an increase in proven and probable mineral reserves to 2.7 million tons grading 5.24 grams per tonne containing 405,400 ounces of gold as of December 31, 2013. This is a 60% increase from the proven and probable mineral reserves as of December 31, 2012. \n \"I am very pleased with the progress made by our technical team over the past year. The increase in reserves has allowed us to complete five years of detailed mine planning, thereby providing improved operational flexibility. Our drilling in 2014 will be primarily from underground locations in closer proximity to known ore bodies. We expect to achieve a further increase in the mineral reserve as the year progresses through the conversion of our large inferred mineral resource,\" said Ian Berzins, San Gold's President, CEO and Chief Operating Officer.\n \n \n \n Rice Lake Mining Complex Mineral Reserves and Resources,\n as of December 31, 2013\n \n \n Mineral Reserves\n \n Mineral Resources\n \n \n \n Tons\n \n Grade\n \n Gold\n \n \n Tons\n \n Grade\n \n Gold\n \n \n \n \n \n g/tonne\n \n oz/ton\n \n oz\n \n \n \n \n g/tonne\n \n oz/ton\n \n oz\n \n \n Rice Lake Mine\n \n \n \n \n \n \n \n \n Rice Lake Mine\n \n \n \n \n \n \n \n \n \n Proven Reserves\n 345,600\n \n 6.05\n \n 0.18\n \n 61,000\n \n Measured Resource\n 281,400\n \n 8.32\n \n 0.24\n \n 68,300\n \n \n Probable Reserves\n 1,114,300\n \n 5.85\n \n 0.17\n \n 190,000\n \n Indicated Resource\n 927,400\n \n 7.87\n \n 0.23\n \n 212,800\n \n \n Proven and Probable\n 1,459,900\n \n 5.89\n \n 0.17\n \n 251,000\n \n Measured and Indicated\n 1,208,800\n \n 7.97\n \n 0.23\n \n 281,100\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Inferred Resource\n 6,553,300\n \n 7.11\n \n 0.21\n \n 1,358,100\n \n \n Hinge District\n \n \n \n \n \n \n \n \n Hinge District\n \n \n \n \n \n \n \n \n \n Proven Reserves\n 146,000\n \n 4.79\n \n 0.14\n \...