Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) ("Liberty Gold" or the
"Company") is pleased to announce additional results from the
recently completed 2021 Reverse Circulation (“RC”) drill program at
the Goldstrike Oxide Gold Project in southwestern Utah
(“Goldstrike”).
This news release includes resource conversion
drilling in the Main Zone which hosts greater than 75% of the
current resource. This drilling further confirms two key features
of the Goldstrike deposit: firstly, mineralization is near surface,
emphasising the low strip nature of the orebody and secondly, the
predictable lateral continuity of well-mineralized, high-grade
corridors in the Main Zone, building confidence in the resource
modeling of gold distribution in this area.
Additionally, step-out drilling in the Dip Slope
Zone along the northern edge of the Main Zone, has delineated a
significant down-dip extension of the shallow, mineralized zone,
demonstrating further growth potential of the deposit in this
area.
Cal Everett, President and CEO of Liberty Gold
stated, “The +1 million ounce Goldstrike Deposit presents robust
economics at today’s gold prices as illustrated in the 2018 PEA and
is advancing quickly towards a prefeasibility study decision. Due
to the market’s focus on the large-scale Black Pine Oxide Gold
Deposit in southern Idaho, we are assessing several strategic
alternatives available to Liberty Gold in order to accurately
reflect Goldstrike’s market value.”
For a map and cross sections of the Goldstrike Property,
including drill collars and traces for the current release, please
click
here:https://libertygold.ca/images/news/2022/January/Goldstrike_NR01112022MapSection.pdf
For a complete table of drill results from all Liberty Gold
drill holes at Goldstrike, please click
here: https://libertygold.ca/images/news/2022/January/GS_Intercepts01112022.pdf
MAIN ZONE – HAMBURG PIT HIGHLIGHTS
- The Main Zone -
Hamburg Pit area continues to deliver thick zones of oxide gold
mineralization at shallow depth.
- Excellent grades
and high cyanide solubility are also a hallmark of mineralization
in this area.
- Drilling
continues to define corridors of gold mineralization associated
with fault zones with higher grades and greater thicknesses.
MAIN ZONE – HAMBURG HIGHLIGHT TABLE*
|
Hole ID (Az, Dip) (degrees) |
From (m) |
To (m) |
Intercept (m) |
Au (g/t) |
Au Cut-Off |
Hole Length (m) |
Target |
AuCN/AuFA (%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
PGS798 (225, -60) |
33.5 |
93.0 |
59.4 |
0.94 |
0.15 |
196.6 |
Hamburg |
88 |
% |
|
|
incl |
41.1 |
93.0 |
51.8 |
1.05 |
0.2 |
88 |
% |
|
|
also incl |
42.7 |
47.2 |
4.6 |
3.73 |
1 |
90 |
% |
|
|
also incl |
53.3 |
70.1 |
16.8 |
1.30 |
87 |
% |
|
|
also incl |
44.2 |
45.7 |
1.5 |
5.71 |
5 |
91 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
PGS799 (0, -90) |
53.3 |
79.2 |
25.9 |
0.53 |
0.15 |
152.4 |
Hamburg |
82 |
% |
|
|
incl |
56.4 |
77.7 |
21.3 |
0.61 |
0.2 |
82 |
% |
|
|
also incl |
68.6 |
71.6 |
3.0 |
1.50 |
1 |
77 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
PGS800 (203, -58) |
41.1 |
85.3 |
44.2 |
0.72 |
0.2 |
137.2 |
Hamburg |
79 |
% |
|
|
also incl |
67.1 |
80.8 |
13.7 |
1.41 |
1 |
80 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
PGS801 (200, -50) |
45.7 |
86.9 |
41.1 |
0.31 |
0.15 |
152.4 |
Hamburg |
90 |
% |
|
|
incl |
51.8 |
74.7 |
22.9 |
0.39 |
0.2 |
96 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
PGS802 (155, -45) |
0.0 |
9.1 |
9.1 |
0.37 |
0.15 |
152.4 |
Hamburg |
80 |
% |
|
|
incl |
1.5 |
9.1 |
7.6 |
0.40 |
0.2 |
81 |
% |
|
|
and |
64.0 |
106.7 |
42.7 |
0.59 |
0.15 |
87 |
% |
|
|
incl |
64.0 |
105.2 |
41.1 |
0.61 |
0.2 |
87 |
% |
|
|
also incl |
64.0 |
68.6 |
4.6 |
1.74 |
1 |
89 |
% |
|
|
also incl |
99.1 |
102.1 |
3.0 |
1.61 |
93 |
% |
|
|
and |
117.3 |
125.0 |
7.6 |
0.35 |
0.15 |
72 |
% |
|
|
incl |
117.3 |
120.4 |
3.0 |
0.64 |
0.2 |
87 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
PGS803 (155, -65) |
0.0 |
4.6 |
4.6 |
0.48 |
0.15 |
160.0 |
Hamburg |
76 |
% |
|
|
incl |
0.0 |
1.5 |
1.5 |
1.07 |
1 |
73 |
% |
|
|
and |
57.9 |
79.2 |
21.3 |
0.37 |
0.15 |
74 |
% |
|
|
incl |
57.9 |
77.7 |
19.8 |
0.39 |
0.2 |
73 |
% |
|
|
and |
97.5 |
131.1 |
33.5 |
0.57 |
0.15 |
93 |
% |
|
|
incl |
97.5 |
123.4 |
25.9 |
0.69 |
0.2 |
95 |
% |
|
|
also incl |
102.1 |
103.6 |
1.5 |
1.02 |
1 |
100 |
% |
|
|
also incl |
117.3 |
123.4 |
6.1 |
1.13 |
93 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
PGS804 (130, -75) |
0.0 |
6.1 |
6.1 |
0.40 |
0.15 |
144.8 |
Hamburg |
66 |
% |
|
|
incl |
1.5 |
4.6 |
3.0 |
0.62 |
0.2 |
66 |
% |
|
|
and |
80.8 |
106.7 |
25.9 |
0.28 |
0.15 |
72 |
% |
|
|
incl |
80.8 |
89.9 |
9.1 |
0.39 |
0.2 |
82 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
PGS805 (60, -85) |
73.2 |
97.5 |
24.4 |
0.30 |
0.15 |
221.0 |
Hamburg |
88 |
% |
|
|
incl |
76.2 |
88.4 |
12.2 |
0.42 |
0.2 |
96 |
% |
|
|
and |
135.6 |
170.7 |
35.1 |
0.45 |
91 |
% |
|
|
also incl |
163.1 |
164.6 |
1.5 |
1.09 |
1 |
100 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
PGS806 (190, -80) |
47.2 |
138.7 |
91.4 |
0.52 |
0.15 |
213.4 |
Hamburg |
90 |
% |
|
|
incl |
47.2 |
137.2 |
89.9 |
0.53 |
0.2 |
90 |
% |
|
|
also incl |
70.1 |
71.6 |
1.5 |
1.32 |
|
89 |
% |
|
|
also incl |
108.2 |
111.3 |
3.0 |
1.30 |
99 |
% |
|
|
also incl |
125.0 |
126.5 |
1.5 |
1.53 |
100 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
PGS807 (190, -63) |
0.0 |
4.6 |
4.6 |
0.81 |
0.2 |
172.2 |
Hamburg |
53 |
% |
|
|
incl |
0.0 |
1.5 |
1.5 |
1.45 |
1 |
46 |
% |
|
|
and |
44.2 |
89.9 |
45.7 |
0.64 |
0.2 |
85 |
% |
|
|
incl |
45.7 |
48.8 |
3.0 |
2.08 |
1 |
95 |
% |
|
|
incl |
57.9 |
62.5 |
4.6 |
1.43 |
82 |
% |
|
|
and |
99.1 |
135.6 |
36.6 |
0.57 |
0.2 |
81 |
% |
|
|
incl |
111.3 |
115.8 |
4.6 |
1.46 |
1 |
88 |
% |
|
*Please refer to the full table at the link
below for complete results. Results are reported as drilled
thicknesses, with true thicknesses varying by hole orientation.
True thicknesses are generally 60% to 90% of drilled thicknesses.
Gold grades are uncapped. Au (g/t) = grams per tonne of gold.
“AuCN/AuFA” is the ratio of cyanide soluble gold (recovered using
the method described in the Quality Assurance – Quality Control
section below) to gold by fire assay, expressed as percent.
MAIN ZONE – BASIN PIT HIGHLIGHTS
- The Main Zone - Basin Pit is located to the northwest of the
Hamburg Pit across the Hamburg Fault Zone.
- Shallow gold mineralization is preserved in the pit highwalls
and immediately beneath the pit floor.
- Many of the historic holes did not extend deep enough to test
the entire thickness of mineralization, and large lateral gaps in
drill coverage existed.
- The infill drilling has defined a previously unrecognized,
structural control to high grade mineralization.
MAIN ZONE – BASIN PIT HIGHLIGHT TABLE*
|
Hole ID (Az, Dip) (degrees) |
From (m) |
To (m) |
Intercept (m) |
Au (g/t) |
Au Cut-Off |
Hole Length (m) |
Target |
AuCN/AuFA (%) |
|
|
PGS815 (310, -70) |
12.2 |
27.4 |
15.2 |
0.64 |
|
141.7 |
Basin |
60 |
% |
|
|
incl |
13.7 |
25.9 |
12.2 |
0.75 |
0.2 |
60 |
% |
|
|
also incl |
13.7 |
18.3 |
4.6 |
1.39 |
1 |
56 |
% |
|
|
and |
56.4 |
64.0 |
7.6 |
0.36 |
0.15 |
59 |
% |
|
|
incl |
57.9 |
62.5 |
4.6 |
0.50 |
0.2 |
59 |
% |
|
|
and |
71.6 |
79.2 |
7.6 |
0.39 |
0.15 |
67 |
% |
|
|
incl |
73.2 |
79.2 |
6.1 |
0.45 |
0.2 |
71 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
PGS816 (250, -70) |
27.4 |
36.6 |
9.1 |
0.73 |
0.15 |
121.9 |
Basin |
88 |
% |
|
|
also incl |
33.5 |
36.6 |
3.0 |
1.88 |
1 |
92 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
PGS819 (120, -50) |
4.6 |
9.1 |
4.6 |
0.36 |
0.15 |
208.8 |
Basin |
89 |
% |
|
|
incl |
4.6 |
7.6 |
3.0 |
0.45 |
0.2 |
90 |
% |
|
|
and |
18.3 |
36.6 |
18.3 |
1.02 |
0.15 |
88 |
% |
|
|
incl |
18.3 |
35.1 |
16.8 |
1.10 |
0.2 |
88 |
% |
|
|
also incl |
24.4 |
33.5 |
9.1 |
1.71 |
1 |
88 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
PGS820 (0, -90) |
39.6 |
62.5 |
22.9 |
0.45 |
0.2 |
152.4 |
Basin |
77 |
% |
|
|
incl |
51.8 |
53.3 |
1.5 |
1.08 |
1 |
83 |
% |
|
|
and |
68.6 |
80.8 |
12.2 |
0.61 |
0.15 |
82 |
% |
|
|
incl |
70.1 |
80.8 |
10.7 |
0.67 |
0.2 |
82 |
% |
|
|
also incl |
74.7 |
76.2 |
1.5 |
1.18 |
1 |
82 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
PGS821 (60, -50) |
61.0 |
80.8 |
19.8 |
0.52 |
0.15 |
152.4 |
Basin |
83 |
% |
|
|
incl |
61.0 |
79.2 |
18.3 |
0.55 |
0.2 |
83 |
% |
|
|
also incl |
68.6 |
71.6 |
3.0 |
1.34 |
1 |
92 |
% |
|
MAIN ZONE - DIP SLOPE EXTENSION
HIGHLIGHTS
- The Main Zone - Dip Slope is a zone of shallow mineralization
that extends north of the Basin Pit.
- Six holes from three sites targeted the down-dip extension of
the Dip Slope Zone to the north of any previous drilling. Gold
mineralization was encountered in all of the holes.
- PGS 810 is the furthest step-out to the north and presented the
longest and highest-grade intercepts. Additional drilling is
warranted to address the extent of mineralization in this
area.
- The presence of gold mineralization in this area demonstrates
that the Goldstrike deposit is open for expansion to the north and
west laterally along the unconformity.
- Drilling was recently completed in a new area along the east
side of the deposit, with results pending.
DIP SLOPE EXTENSION HIGHLIGHT TABLE*
|
Hole ID (Az, Dip) (degrees) |
From (m) |
To (m) |
Intercept (m) |
Au (g/t) |
Au Cut-Off |
Hole Length (m) |
Target |
AuCN/AuFA (%) |
|
|
PGS809 (90, -60) |
149.4 |
164.6 |
15.2 |
0.46 |
0.15 |
201.2 |
Dip Slope Extension |
92 |
% |
|
|
incl |
149.4 |
160.0 |
10.7 |
0.57 |
0.2 |
91 |
% |
|
|
also incl |
150.9 |
152.4 |
1.5 |
1.53 |
1 |
97 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
PGS810 (0, -65) |
182.9 |
208.8 |
25.9 |
0.78 |
0.2 |
274.3 |
Dip Slope Extension |
6 |
% |
|
|
incl |
198.1 |
205.7 |
7.6 |
1.46 |
1 |
5 |
% |
|
|
and |
243.8 |
263.7 |
19.8 |
0.62 |
0.2 |
4 |
% |
|
|
incl |
249.9 |
254.5 |
4.6 |
1.26 |
1 |
5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
PGS812 (70, -50) |
80.8 |
86.9 |
6.1 |
0.24 |
0.2 |
144.8 |
Dip Slope Extension |
78 |
% |
|
|
and |
126.5 |
129.5 |
3.0 |
1.24 |
36 |
% |
|
|
inc |
126.5 |
128.0 |
1.5 |
2.23 |
1 |
35 |
% |
|
ABOUT GOLDSTRIKE
Goldstrike is located in the eastern Great
Basin, immediately adjacent to the Utah/Nevada border, and is a
Carlin-style gold system, similar in many ways to the prolific
deposits located along Nevada’s Carlin trend. Like Black Pine
and Nevada Gold Mines Long Canyon deposit, Goldstrike represents
part of a growing number of Carlin-style gold systems located off
the main Carlin and Cortez trends in underexplored parts of the
Great Basin.
Goldstrike is a past-producing, open-pit run of
mine heap-leach operation that produced 209,000 ounces (“oz”) of
gold and 197,000 oz of silver between 1988 and 1994 during a period
of historically low gold prices. Ore was mined from 12 shallow
pits, at an average grade of 1.2 grams per tonne gold (“g/t Au”)
and an average recovery of approximately 75%. Liberty Gold carried
out extensive compilation, drilling and metallurgical work,
releasing a resource estimate and Preliminary Economic Assessment
(“PEA”) in 2018. The resource includes an Indicated 925,000 oz of
gold grading 0.50 g/t Au (57,846,000 tonnes) and an Inferred
296,000 oz of gold grading 0.47 g/t Au (19,603,000 tonnes), backed
by over 1,700 drill holes. The PEA mines 915,516 oz of gold at a
life of mine all in sustaining costs of US$793/oz, returning a NPV
at a 5% discount rate of US$129.5 million and an IRR of 29.4% at
US$1,300/oz gold prices. A sensitivity analysis using US$1,700/oz
gold returns an NPV5% of US$291.7 million and an IRR of 52.4%
representing strong economic returns at current gold prices.
The 2021 drilling campaign is designed to
convert areas of inferred resource to indicated resource in support
of a Prefeasibility Study decision and will also test for
extensions to mineralization in several areas.
A virtual site tour and 3D model of the
Goldstrike property, including details about the geology and
mineralization, is available on the Company’s
website: libertygold.ca
QUALITY ASSURANCE – QUALITY
CONTROL
Drill composites were calculated using cut-offs
of 0.15 g/t, 0.20 g/t and 1.00 g/t gold. Drill intersections are
reported as drilled thicknesses. True widths of the mineralized
intervals vary between 30% and 100% of the reported lengths due to
varying drill hole orientations but are typically in the range of
60% to 80% of true width. Drill samples were assayed by ALS Limited
in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton)
charge with an AA finish, or if over 5.0 g/t Au were re-assayed and
completed with a gravimetric finish. For these samples, the
gravimetric data were utilized in calculating gold intersections.
For any samples assaying over 0.200 ppm an additional cyanide leach
analysis is done where the sample is treated with a 0.25% NaCN
solution and rolled for an hour. An aliquot of the final leach
solution is then centrifuged and analyzed by Atomic Absorption
Spectroscopy. QA/QC for all drill samples consists of the insertion
and continual monitoring of numerous standards and blanks into the
sample stream, and the collection of duplicate samples at random
intervals within each batch. Selected holes are also analyzed for a
51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno
is ISO 17025:2005 Accredited, with the Elko prep lab listed on the
scope of accreditation.
QUALIFIED PERSON
Moira Smith, Ph.D., P.Geo., Vice-President
Exploration and Geoscience, Liberty Gold, is the Company's
designated Qualified Person for this news release within the
meaning of National Instrument 43-101 Standards of Disclosure for
Mineral Projects ("NI 43-101") and has reviewed and validated that
the information contained in the release is accurate.
ABOUT LIBERTY GOLDLiberty Gold
is focused on exploring the Great Basin of the United States, home
to large-scale gold projects that are ideal for open-pit mining.
This region is one of the most prolific gold-producing regions in
the world and stretches across Nevada and into Idaho and Utah. We
know the Great Basin and are driven to discover and advance big
gold deposits that can be mined profitably in open-pit scenarios.
Our flagship projects are Black Pine in Idaho and Goldstrike in
Utah, both past- producing open-pit mines, where previous operators
only scratched the surface.
For more information, visit www.libertygold.ca or
contact:
Susie Bell, Manager, Investor RelationsPhone:
604-632-4677 or Toll Free
1-877-632-4677info@libertygold.ca
All statements in this press release, other than
statements of historical fact, are "forward-looking information"
with respect to Liberty Gold within the meaning of applicable
securities laws, including statements that address potential
quantity and/or grade of minerals, the potential size of the
mineralized zone, , drill results demonstrating the presence of
continuous and well-mineralized corridors in the Main Zone area and
building confidence in the resource modeling, plans with respect to
exploration and development plans of Goldstrike and the timing
thereof, the objectives of the drilling program, the potential
upgrade of inferred mineral resources to measured and indicated
mineral resources and plans for any Prefeasibility Study decisions.
Forward-looking information is often, but not always, identified by
the use of words such as "seek", "anticipate", "plan", "continue",
"planned", "expect", "project", "predict", "potential",
"targeting", "intends", "believe", "potential", and similar
expressions, or describes a "goal", or variation of such words and
phrases or state that certain actions, events or results "may",
"should", "could", "would", "might" or "will" be taken, occur or be
achieved. Forward-looking information is not a guarantee of future
performance and is based upon a number of estimates and assumptions
of management at the date the statements are made including, among
others, assumptions about future prices of gold, and other metal
prices, currency exchange rates and interest rates, favourable
operating conditions, political stability, obtaining governmental
approvals and financing on time, obtaining renewals for existing
licenses and permits and obtaining required licenses and permits,
labour stability, stability in market conditions, the impact from
the pandemic of the novel coronavirus (COVID-19), availability of
equipment, timing of the publication of any PEAs, the availability
of drill rigs, successful resolution of disputes and anticipated
costs and expenditures. Many assumptions are based on factors and
events that are not within the control of Liberty Gold and there is
no assurance they will prove to be correct.
Such forward-looking information, involves known
and unknown risks, which may cause the actual results to be
materially different from any future results expressed or implied
by such forward-looking information, including, risks related to
the interpretation of results and/or the reliance on technical
information provided by third parties as related to the Company’s
mineral property interests; changes in project parameters as plans
continue to be refined; current economic conditions; future prices
of commodities; possible variations in grade or recovery rates; the
costs and timing of the development of new deposits; failure of
equipment or processes to operate as anticipated; the failure of
contracted parties to perform; the timing and success of
exploration activities generally; the timing of the publication of
any PEAs or pre-feasibilities; delays in permitting; possible
claims against the Company; labour disputes and other risks of the
mining industry, including impacts from the pandemic of the novel
coronavirus (COVID-19); delays in obtaining governmental approvals,
financing or in the completion of exploration as well as those
factors discussed in the Annual Information Form of the Company
dated March 26, 2021 in the section entitled "Risk Factors", under
Liberty Gold’s SEDAR profile at www.sedar.com.
Although Liberty Gold has attempted to identify
important factors that could cause actual actions, events, or
results to differ materially from those described in
forward-looking information, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that such information will
prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements.
Liberty Gold disclaims any intention or obligation to update or
revise any forward-looking information, whether as a result of new
information, future events or otherwise.
Cautionary Note for United States Investors
The terms “mineral resource”, “measured mineral
resource”, “indicated mineral resource” and “inferred mineral
resource”, are Canadian mining terms as defined in, and required to
be disclosed in accordance with, National Instrument 43-101 –
Standards of Disclosure for Mineral Projects (“NI
43-101”), which references the guidelines set out in the
Canadian Institute of Mining, Metallurgy and Petroleum (the
“CIM”) – CIM Definition Standards on Mineral
Resources and Mineral Reserves (“CIM Definition
Standards”), adopted by the CIM Council, as amended.
However, these terms are not defined terms under SEC Industry Guide
7 (“SEC Industry Guide 7”) under the United States
Securities Act of 1933, as amended, and normally are not permitted
to be used in reports and registration statements filed with United
States Securities and Exchange Commission (the
“SEC”). The SEC has adopted amendments to its
disclosure rules to modernize the mineral property disclosure
requirements for issuers whose securities are registered with the
SEC under the United States Securities Exchange Act of 1934, as
amended. These amendments became effective February 25, 2019 (the
“SEC Modernization Rules”) with compliance
required for the first fiscal year beginning on or after January 1,
2021. The SEC Modernization Rules replace the historical disclosure
requirements for mining registrants that were included in SEC
Industry Guide 7. The Company does not file reports with the SEC
and is not required to provide disclosure on its mineral properties
under the SEC Modernization Rules and will continue to provide
disclosure under NI 43-101 and the CIM Definition Standards.
United States investors are cautioned that there
are differences in the definitions under the SEC Modernization
Rules and the CIM Definition Standards. There is no assurance any
mineral resources that the Company may report as “measured mineral
resources”, “indicated mineral resources” and “inferred mineral
resources” under NI 43- 101 would be the same had the Company
prepared the resource estimates under the standards adopted under
the SEC Modernization Rules. United States investors are also
cautioned that while the SEC will now recognize “measured mineral
resources”, “indicated mineral resources” and “inferred mineral
resources”, investors should not assume that any part or all of the
mineralization in these categories will ever be converted into a
higher category of mineral resources or into mineral reserves.
Mineralization described using these terms has a greater amount of
uncertainty as to their existence and feasibility than
mineralization that has been characterized as reserves.
Accordingly, investors are cautioned not to assume that any
“measured mineral resources”, “indicated mineral resources” or
“inferred mineral resources” that the Company reports are or will
be economically or legally mineable. Further, “inferred mineral
resources” have a greater amount of uncertainty as to their
existence and as to whether they can be mined legally or
economically. Therefore, United States investors are also cautioned
not to assume that all or any part of the “inferred mineral
resources” exist. In accordance with Canadian securities laws,
estimates of “inferred mineral resources” cannot form the basis of
feasibility or other economic studies, except in limited
circumstances where permitted under NI 43-101. In addition, the SEC
has amended its definitions of “proven mineral reserves” and
“probable mineral reserves” to be “substantially similar” to the
corresponding CIM definitions. United States investors are
cautioned that a preliminary economic assessment cannot support an
estimate of either “proven mineral reserves” or “probable mineral
reserves” and that no feasibility studies have been completed on
the Company’s mineral properties.
Accordingly, information contained herein
describing the Company’s mineral deposits may not be comparable to
similar information made public by U.S. companies subject to the
reporting and disclosure requirements under the United States
federal securities laws and the rules and regulations
thereunder.
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