VANCOUVER, BC, July 15, 2020 /CNW/ - GoldMining Inc. (the
"Company" or "GoldMining") (TSX: GOLD) (OTCQX:
GLDLF) is pleased to announce that further to its press
release dated June 3, 2020, the
Company has filed a National Instrument 43-101 (NI 43-101)
technical report (the "Technical Report") for its Almaden Gold
Project (the "Project" or "Almaden") located in Idaho, USA.
The Technical Report, dated effective April 1, 2020, is titled "Technical Report:
Almaden Gold Property, Washington County,
Idaho, USA". The Technical Report was authored by
Greg Z. Mosher, M.Sc., P.Geo., of
Global Mineral Resource Services, who is a qualified person within
the meaning of NI 43-101, is independent of the Company and
has reviewed and approved the disclosure regarding the resource
estimate for Almaden disclosed herein.
The Almaden Project covers approximately 1,724 Ha and is located
140 km by road north of Boise and
24 km east of Weiser in
Washington County, Idaho.
Almaden is host to low-sulphidation epithermal mineralization that
was the subject of an updated mineral resource estimate using a
cut-off grade of 0.3 g/t gold for pit constrained resources as
documented in the Technical Report (Table 1).
Table 1: Mineral resource statement1 using a 0.3 g/t
gold cut-off for the Almaden Gold Project, Idaho.
Classification
|
Tonnes
|
Gold
Grade
|
Gold
Ounces
|
g/t
|
oz
|
Indicated
|
43,470,000
|
0.65
|
910,000
|
Inferred
|
9,150,000
|
0.56
|
160,000
|
Table 1
Notes:
|
|
1.
|
Mineral resources are
not mineral reserves and do not have demonstrated economic
viability. There is no certainty that all or any part of the
mineral resources will be converted into mineral reserves.
The estimate of mineral resources may be materially affected by
environmental permitting, legal, title, taxation, sociopolitical,
marketing or other relevant issues.
|
2.
|
All quantities are
rounded to the appropriate number of significant figures;
consequently, sums may not add up due to rounding.
|
3.
|
Pit constrained
resources with reasonable prospects of eventual economic extraction
stated above a 0.30 g/t Au cut-off.
|
4.
|
Pit optimization is
based on an assumed gold price of US$1,500/oz, mining cost of
US$2.25/t, processing cost of US$10.00/t and pit slope of
45°.
|
Readers should refer to the Technical Report, a copy of which is
available under the Company's profile at www.SEDAR.com, for further
information regarding the resource estimate contained herein and
the Project.
Qualified Persons
Paulo Pereira, President of
GoldMining Inc. has reviewed and approved the technical information
contained in this news release. Mr. Pereira holds a Bachelors
degree in Geology from Universidade do Amazonas in Brazil, is a Qualified Person as defined in NI
43-101 and is a member of the Association of Professional
Geoscientists of Ontario.
About GoldMining Inc.
GoldMining Inc. is a public mineral exploration company focused
on the acquisition and development of gold assets in the
Americas. Through its disciplined acquisition strategy,
GoldMining now controls a diversified portfolio of resource-stage
gold and gold-copper projects and royalties in Canada, U.S.A., Brazil, Colombia and Peru. Additionally,
GoldMining owns a 75% interest in the Rea Uranium Project, located
in the Western Athabasca Basin of
Alberta, Canada.
Forward-looking Statements
This document contains certain forward-looking statements
that reflect the current views and/or expectations of GoldMining
with respect to its business and future events, including
statements with respect to the details of the mineral resource
estimate. Forward-looking statements are based on the
then-current expectations, beliefs, assumptions, estimates and
forecasts about the business and the markets in which GoldMining
operates. Investors are cautioned that all forward-looking
statements involve risks and uncertainties, including: the inherent
risks involved in the exploration and development of mineral
properties, the uncertainties involved in interpreting drill
results and other exploration data, the geology, grade and
continuity of mineral deposits, the possibility that future
exploration, development or mining results will not be consistent
with GoldMiningꞌs expectations, title and permitting matters,
fluctuating metal prices and uncertainties relating to the
availability and costs of financing needed in the future.
These risks, as well as others, including those set forth in
GoldMiningꞌs Annual Information Form for the year ended
November 30, 2019 and other filings
with Canadian securities regulators, could cause actual results and
events to vary significantly. Accordingly, readers should not
place undue reliance on forward-looking statements and information.
There can be no assurance that forward-looking information,
or the material factors or assumptions used to develop such forward
looking information, will prove to be accurate. GoldMining
does not undertake any obligations to release publicly any
revisions for updating any voluntary forward-looking statements,
except as required by applicable securities law.
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SOURCE GoldMining Inc.