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Spanish Mountain Reveals Project Strategy for 2021 and Accelerates Field Work with a Winter Program
Vancouver, British Columbia--(Newsfile Corp. - January 18, 2021) - Spanish Mountain Gold Ltd....
About this update from Spanish Mountain Gold Ltd.
[{"type":"text","content":"Spanish Mountain Reveals Project Strategy for 2021 and Accelerates Field Work with a Winter ProgramVancouver, British Columbia--(Newsfile Corp. - January 18, 2021) - Spanish Mountain Gold Ltd. (TSXV: SPA) (\"Spanish Mountain\" or the \"Company\") is pleased to provide an update on the current year's project strategy for the Spanish Mountain gold project (the \"Project\") in British Columbia, Canada. To accelerate the planned activities for the year, the Company will add a winter field program, which will be mobilized in February. All the programs listed below will be funded with cash on hand.Preliminary Feasibility StudyThe Company expects to deliver on its stated objective of presenting the results of the Preliminary Feasibility Study (PFS) for Phase 1 of the Project within the first quarter of 2021. Phase 1 of the Project focuses on processing exclusively the near-surface/ higher-grade portion of its multimillion ounce gold resource as a standalone operation. The PFS will also delineate a Mineral Reserve for Phase 1 of the Project. Winter Field ProgramPreparation is underway to fast-track the current year's geotechnical field work by adding a winter program. Mobilization of the work crew is expected to occur in February. The program comprises approximately 14 geotechnical drill holes located in areas where winter conditions allow cost-effective road access. The data collected will be used to support the proposed configuration of the Project's critical mining infrastructure. As in previous field program, the health and safety protocol will be observed and strictly enforced by management to ensure the health of staff, consultants and community members. Resource Expansion & Reserve/Resource Estimate UpdateIn addition to fast-tracking Phase 1 of the Project to be \"shovel ready\", the Company will continue to pursue the objective of rapid resource expansion. During 2020, the Company conducted an exploration drilling program targeting four different areas with 28 drill holes located adjacent to the boundary of the current resource. The assay results for these drill holes will be announced as they become available. The results are also expected to generate prospective drilling targets for an additional exploration program this summer or fall.The PFS will report a Mineral Reserve for Phase 1 as well as a resource estimate update ...