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TDG Gold Corp. Signs LOI to Acquire Advanced Exploration & Development "Nueva Esperanza" Silver-Gold Project in the Maricunga Belt, Chile - Includes Historical M&I Resource of 68.6 Million Ounces Silver and 400,000 Ounces Gold
WHITE ROCK, BC / ACCESSWIRE / June 29, 2021 / TDG Gold Corp (TSXV:TDG) (the "Company" or "TDG...
About this update from Tdg Gold Corp
[{"type":"text","content":"TDG Gold Corp. Signs LOI to Acquire Advanced Exploration & Development “Nueva Esperanza” Silver-Gold Project in the Maricunga Belt, Chile - Includes Historical M&I Resource of 68.6 Million Ounces Silver and 400,000 Ounces GoldWHITE ROCK, BC / ACCESSWIRE / June 29, 2021 / TDG Gold Corp (TSXV:TDG) (the \"Company\" or \"TDG\") is pleased to announce that it entered into a non-binding letter of intent (the \"LOI\") on June 18, 2021 with ASX-listed Kingsgate Consolidated Limited (\"Kingsgate\"), an arm's length party to TDG, to acquire Kingsgate's \"Nueva Esperanza\" silver-gold advanced exploration and development project, located in the Maricunga Belt of the Atacama Region of Northern Chile (Figure 1). The proposed transaction will be transformative for TDG, creating a leading pure precious metals focused company with the ambition to accelerate both Nueva Esperanza in the Maricunga and TDG's Shasta project in BC's Toodoggone Production Corridor to production decisions by the end of 2024.The Nueva Esperanza project is located in the northern half of the Maricunga Belt, 140 kilometres (\"km\") northeast of the city of Copiapo, which is a regional mining centre. It is situated at 4000-4200 metres (\"m\") elevation and has three mining areas Arqueros, Chimberos and Teteritawith permits for development and associated water rights.On April 13, 2016, Kingsgate published a JORC-compliant(1) mineral resource(2) estimate (the \"Historical Estimate\") for the Nueva Esperanza project (see Table 1) in a technical report titled \"Nueva Esperanza Mineral Resource Update\", including:Measured and indicated mineral resource of 28.8 million tonnes (\"Mt\") containing 68.6 million ounces (\"Moz\") silver (\"Ag\") at an average grade of 74 grams per tonne (\"g/t\") and 400,000 oz gold (\"Au\") at an average grade 0.43 g/t; and,Inferred mineral resource of 6.0 Mt containing 8.3 Moz Ag at an average grade of 43 g/t and 80,000 oz Au at an average grade of 0.42 g/t.On April 13 2016, Kingsgate also published a JORC-compliant(1) prefeasibility study, including estimation of a mineral reserve(2) titled \"Nueva Esperanza Pre-feasibility Study\" (see Kingsgate's announcement of the prefeasibility study on April 13, 2016).In July 2020, the Nueva Esperanza project was granted Environmental Impact Assessment approval allowing the pre-development, co...