Falco Resources: Updated Resource Shows 135% Increase in the Measured & Indicated Category - Next Step will be PEA in Q2 2016
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News Release Summary:
2016 SRK Geological Model Rubicon conducted trial stoping throughout 2015, allowing the Company to develop the F2 Gold Deposit and process mineralized material. As reported in the Company's The 2016 SRK Geological Model benefits from information that was not previously available, including approximately 94,600 m of infill core drilling within a concentrated shallow area of the deposit, and a considerable amount of underground development and limited trial stoping, which exposed the gold mineralization. The new geological information has highlighted the complexity of controls on the distribution of the gold mineralization, its grade, and its continuity. In particular, the distribution of the higher-grade mineralization is controlled by the intersection between the east-west trending D2 structures and the north-trending high-titanium basalt unit. The new data shows that the high-grade gold mineralization is less continuous than indicated in the 2013 SRK Resource Estimate, which was based upon less widely-spaced drilling data that was drilled sub-parallel to the D2 structures. See Figure 2 at the end of this news release for a conceptual diagram of the revised geological understanding of the high-grade mineralization compared to 2013. The 2016 SRK Geological Model is more restrictive, reducing the volume of gold mineralization. Therefore, this resulted in a significant decrease in tonnes, grade, and ounces in the upper-levels of the deposit. SRK's geological modelling approach limited the depth and strike extensions of the modelled gold mineralization, further reducing the mineral resources. The Company believes additional exploration (drilling, development, sampling, trial stoping, etc.) is required to better understand the geology of the F2 Gold Deposit. 2016 SRK Resource Estimate The 2016 SRK Resource Estimate5 is based on a total of 450,175 m of core drilling in 1,381 drill holes carried out from The mineral resources were evaluated using a geostatistical block modelling approach constrained by gold mineralization domains interpreted from the drilling information. Block gold grade was interpolated using ordinary kriging. The block model was classified in accordance with CIM Definition Standards for Mineral Resources and Mineral Reserves ( Quelle: http://www.rubiconminerals.com/News/News/Details/2016/Rubicon-Updates-Mineral-Resource-Statement-for-the-Phoenix-Gold-Project-And-Evaluates-Strategic-Alternatives/default.aspx | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pershing Gold NASDAQ Uplist Is Part of Larger Resource Expansion and Production Push
Source: Peter Byrne of The Gold Report (7/9/15)
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