GoldMining has announced a mineral resource estimate for its wholly owned 17.2-sq.-km Almaden project, 140 km north of Boise, Idaho.<\/p>\n
The pit-constrained estimate includes 43.5 million indicated tonnes grading 0.65 g\/t gold for a total of 910,000 contained oz. with a further 9.2 million tonnes inferred at 0.56 g\/t gold containing 160,000 gold oz. These resources were derived using a cut-off grade of 0.3 g\/t gold.<\/p>\n
\u201cAlmaden\u2019s near-surface resource is mostly in the indicated category (approximately 85%), which facilitates potential economic studies without the major expense of infill drill programs to upgrade inferred resources to measured and indicated categories,\u201d Garnet Dawson, the company\u2019s CEO, said in a release. <\/p>\n
\u201cFuture exploration programs will look to model metallurgical recoveries across the deposit along with additional metallurgical test work to determine potential processing scenarios before undertaking a potential future preliminary economic assessment.\u201d<\/p>\n
Dawson also highlighted the exploration potential of the deposit, given that the current drilling extends down to an average depth of approximately 75 metres.<\/p>\n The current deposit was previously drilled between 1980 and 2012 by\u00a0Homestake and Amax Gold<\/p>\n<\/blockquote>\n<\/figure>\n According to the company, Almaden is an outcropping, low-sulphidation epithermal gold deposit related to the Northern Nevada Rift. Gold mineralization at the site is associated with a formation featuring silicification and argillic alteration that is approximately 1,900 metres long, 500 metres wide and 150 metres thick.<\/p>\n The current deposit was previously drilled between 1980 and 2012 by Homestake and Amax Gold.<\/p>\n GoldMining holds 11 projects within five countries in the Americas, all of which include existing gold deposits. The company also has a 75% interest in the Rea Uranium project (25% Orano Canada) in the Western Athabasca Basin in Alberta.<\/p>\n Midday Wednesday, GoldMining\u2019s stock was down nearly 2% on the TSE. The company has a C$212 million market capitalization.<\/p>\n\n