VANCOUVER, July 30, 2019 /CNW/ - SSR Mining Inc.
(NASDAQ: SSRM) (TSX: SSRM) ("SSR Mining") provides an update on its
exploration activities and results at its Marigold mine in
Nevada, U.S., Seabee Gold
Operation in Saskatchewan, Canada
and Pitarrilla project in Durango,
Mexico for the period from October 1,
2018 to May 31, 2019 (the
"Exploration Period").
Paul Benson, President and CEO
said, "Over recent years, we have continued to invest in our
business, even in times of depressed precious metals prices. We are
seeing the benefits of that investment now as we enter a period of
anticipated increasing production, declining cash costs and
continued exploration success.
I am pleased to report that the exploration and technical work
at Red Dot, at the Marigold mine, has provided increased confidence
in the deposit's economics based on current assumptions, which
include a gold price of $1,250 per
ounce. Positively, we do not need to invest mining expansion
capital considered in the Marigold Equipment Replacement Study to
support Red Dot economics. Red Dot production is expected to be
added to the current mine plan extending Marigold's life into the
early 2030's. We continue drilling at Marigold and expect to
commence soon an exploration program at the recently-acquired
properties to the south of the mine. As a result, we expect to
further grow Marigold's Mineral Reserves and Resources in years to
come.
We have also had success at Seabee with exciting results in our
Santoy Gap Hanging Wall area. We continue both infill and step out
drilling and expect Santoy Gap Hanging Wall to extend the Seabee
mine life. Finally, we are also announcing works aimed at expanding
the Pitarrilla high grade zone, with the objective to improve the
economics of that project to a double-digit IRR at spot silver
price."
Highlights:
- Successful Red Dot exploration program provides opportunity to
extend Marigold mine life.
-
- Exploration success in 2019: Exploration drilling in
2018 and geotechnical drilling and engineering completed in 2019
support the conversion of Red Dot Mineral Resources.
- Marigold mine life extension: We expect Red Dot to
extend the current Marigold life of mine plan into the early 2030's
without the need for expansion capital.
- Mineral Reserves additions: We expect to report
conversion of Red Dot Phases 2 and 3 Mineral Resources at year-end
2019, complementing the reported 350,000 ounces of gold Mineral
Reserves at Red Dot, referred to as Phase 1, in our year-end 2018
Mineral Reserves and Mineral Resources estimate.
- Focus on Mineral Resources expansion: Exploration and
permitting activities are underway at North and South Red Dot,
Valmy, East Basalt and Trenton
Canyon areas aimed at extending known mineralization and discovery
during 2019 and beyond.
- Also, at Marigold, infill drill results for the Mackay pit and
the North and South Red Dot areas are expected to add to existing
Mineral Reserves and Mineral Resources at year-end 2019. Drill
results include:
-
- At the Mackay pit, drillhole MRA6915 intersected 1.03 g/t gold
over 19.8 meters from 75 meters;
- At North Red Dot, drillhole MRA6790 intersected 5.02 g/t gold
over 53.3 meters from 319 meters, including 12.53 g/t gold over
19.8 meters from 352 meters; and
- At South Red Dot, drillhole MRA6929 intersected 1.70 g/t gold
over 47.2 meters from 213 meters, including 3.36 g/t gold over 16.8
meters from 218 meters.
- At the Seabee Gold Operation, brownfield drill results for the
Santoy Gap Hanging Wall are expected to increase Mineral Resources
at year-end. Drill results include:
-
- Drillhole SUG-19-601 intersected 7.01 g/t gold over 18.2 meters
true width; and
- Drillhole SUG-18-636 intersected 9.96 g/t gold over 10.7 meters
true width.
- Greenfields exploration at the Seabee Gold Operation and Fisher
property intersected new mineralized zones at the Batman Lake and
Mac targets, respectively, where we are targeting new gold
discoveries. Drill results include:
-
- At the Batman Lake target, drillhole BAT-19-001 intersected
6.28 g/t gold over 1.5 meters intersected width; and
- At the Mac target, drillhole FIS-19-035 intersected 7.31 g/t
gold over 1.6 meters intersected width and 3.76 g/t gold over
4.2 meters intersected width, including 13.72 g/t gold over 0.7
meters intersected width.
- At the Pitarrilla project, we are reviewing drill programs and
engineering studies to identify additional zones and continuity of
high grade Mineral Resources with the potential to improve project
economics based on current metal prices.
-
- We are evaluating contractors to extend the existing
underground access and drill these areas. If approved, drilling is
anticipated to commence in the second half of 2020.
Marigold mine, U.S.
During the fourth quarter of 2018, drilling focused on
converting Inferred Mineral Resources and adding to Mineral
Resources in the Mackay pit, while drilling during 2019 has focused
on increasing Mineral Resources and Mineral Reserves in the Mackay
pit and the North and South extensions of Red Dot. A total of
68,965 meters was drilled during the Exploration Period. The drill
program included three core holes as part of the geotechnical study
for the Red Dot pit designs and nine core holes for quality control
within the Red Dot deposit.
During 2019, we have received results from 98 drillholes, which,
combined with the drill program completed in 2018, are expected to
further expand Mineral Reserves and add to Mineral Resources at Red
Dot at year-end 2019.
Drilling locations at Marigold for the Exploration Period are
shown in Figure 1, with highlighted results illustrated in the
east-west cross-section in Figure 2 and the north-south
longitudinal section in Figure 3. Table 1 lists selected drill
results for the Exploration Period, while Table 2 provides the
collar coordinates and drillhole lengths.
In 2018 and 2019, we acquired four parcels totaling 130 hectares
of land located within the Marigold mine land package, as stated in
our news release dated June 27, 2019.
One of these parcels is located near South Red Dot, as shown in
Figure 1. During the Exploration Period, we intersected higher
grade mineralization at South Red Dot (see Figure 3), indicating
the prospectivity of this land parcel and its potential to increase
our Mineral Resources estimate at Marigold at year-end 2019.
The Red Dot area contained a Mineral Resources estimate as
outlined in our year-end 2017 Mineral Reserves and Mineral
Resources estimate (see news release dated February 22, 2018) but did not demonstrate
economic viability utilizing a $1,250
per ounce of gold price. As a result, in 2018, we initiated an
extensive drill program at the Red Dot area with the goals of
upgrading Mineral Resources to Mineral Reserves and increasing the
amount of contained gold by improving our geological understanding
and defining higher-grade structures at this area. The 2018 Red Dot
area drill program was successful in that it achieved, in part, our
goal of converting Red Dot Mineral Resources by adding 350,000
ounces of gold to Mineral Reserves as reported in our year-end 2018
Mineral Reserves and Mineral Resources estimate (see news release
dated February 21, 2019), which we
refer to as Red Dot Phase 1.
During the first half of 2019, the Red Dot exploration program
focused on geotechnical drilling and engineering with the goal of
declaring additional Mineral Reserves at Red Dot. We also completed
preliminary pit designs and related economic evaluations referred
to as the Marigold Equipment Replacement Study. These evaluations
were completed with strict economic return and investment
thresholds and were based on current assumptions, which include a
gold price of $1,250 per ounce. Red
Dot is anticipated to extend the Marigold mine life into the early
2030's, without requiring expansion of the mining fleet or the
associated expansion capital.
Exploration and permitting activities are currently underway in
the Mackay pit, North and South Red Dot, Valmy, East Basalt and the newly-acquired
Trenton Canyon areas, aimed at extending known gold mineralization
and discovery during 2019 and beyond. We expect to commence the
first phase of our exploration program at the Trenton Canyon
property, which lies immediately south of Marigold, in the third
quarter of 2019.
Seabee Gold Operation, Canada
At the Santoy mine complex, drilling throughout the Exploration
Period focused on increasing Mineral Resources and
defining Mineral Reserves at the Santoy Gap Hanging Wall ("Gap
HW"), Santoy 8A and Santoy 9A and 9C zones. Greenfields exploration
activities at the Seabee Gold Operation and Fisher property are
focused on targeting new gold discoveries at the Batman Lake and
Mac areas, respectively. Over the Exploration Period, 190
drillholes totaling 75,921 meters of core drilling were completed
from underground and surface programs at the properties.
Underground and surface exploration is on-going.
The Gap HW drill program has realized consistent positive
results from areas up and down plunge from the initial Inferred
Mineral Resources outlined at year-end 2018. The Gap HW Mineral
Resources are located within 250 meters of Santoy 9 mineralization
and extend parallel to the Santoy decline for approximately 300
meters. Currently, the mineralized structure demonstrates a plunge
length of 1,200 meters associated with a folded granodiorite sill.
As of the end of the Exploration Period, we have completed 77
drillholes at Gap HW, with 44 drillholes containing resource widths
and grades of more than 3 g/t gold over 3 meters. Once compiled, we
expect these results to add Mineral Resources at Santoy at year-end
2019. Highlighted drill results are shown in a longitudinal section
of the Santoy mine complex in Figure 4 and a cross-section of the
Gap HW in Figure 5. Mineral Resources that are not Mineral Reserves
do not have demonstrated economic viability.
During the Exploration Period, we completed 36 drillholes at
Santoy 8A and 33 drillholes at Santoy 9, which aided in converting
Inferred Mineral Resources to Mineral Reserves at year-end 2018.
Our 2019 exploration program aims to increase Inferred Mineral
Resources in these areas.
At the Batman Lake area, located 800 meters south of the Santoy
mine, we completed four drillholes totaling 1,062 meters during the
Exploration Period, of which three drillholes intersected a new
mineralized area called the Riddler zone. This zone, averaging four
meters of intercepted width, contained visible gold and exhibits
plunge continuity of nearly 400 meters from 100 meters below
surface. The best intercept returned 6.28 g/t gold over 1.5 meters
in drillhole BAT-19-001 and demonstrates additional exploration
potential within 800 meters of the Santoy mine complex, with
additional drilling planned to investigate this mineralization,
which remains open at depth.
At the Fisher project, our objective is to discover a new zone
with potential for Inferred Mineral Resources. Work during the
fourth quarter of 2018 focused on the Mac target, where we
completed a drill program including ten drillholes totaling 3,552
meters. During 2019, at the Fisher project we have completed 20
drillholes totaling 7,640 meters, including a further seven
drillholes and 3,522 meters at the Mac target. The program was
successful in intersecting gold mineralization at the Mac vein in
five drillholes with an average drilled width of two
meters. Hole FIS-19-035 intercepted 3.76 g/t gold over 4.2
meters, representing the first occurrence at the Fisher project of
mineable width and above cut-off grade gold mineralization.
Next exploration steps at the Seabee Gold Operation include
completing exploration for additional Inferred Mineral Resources up
and down plunge from the existing Gap HW Inferred Mineral
Resources. We expect to evaluate Gap HW mining alternatives during
2020. Field programs targeting greenfields discovery are underway
at the Seabee Gold Operation and Fisher property.
Table 3 lists selected drill results at the Santoy mine complex
and the Batman Lake and Fisher project areas for the Exploration
Period.
Pitarrilla Project, Mexico
The Pitarrilla project was the subject of a feasibility study
completed in 2012. The feasibility study contemplated an open pit
mine and capital intensive processing facilities capable of
recovering silver and base metals from surface oxides, transition
zone and deeper sulphide Mineral Resources using a long-term silver
price of $25 per ounce.
In 2018, we evaluated a smaller scale, underground mine
alternative, targeting higher-grade sulphide Mineral Resources
using prevailing metals prices and lower capital, aligned with the
reduced scope. While this evaluation resulted in a modest,
positive return, our minimum investment criteria were not
satisfied. However, the 2018 underground mine evaluation indicated
that there is potential to increase the sulphide mineralization
tonnage and metal grades for improved project economics with
additional exploration activities. This is a result of
moderately-spaced vertical exploration holes associated with the
2012 open pit mine scenario and sub-vertical structures controlling
the higher-grade sulphide mineralization.
During the second quarter of 2019, we requested proposals from
contractors to extend an existing exploration decline approximately
850 meters allowing for an in-fill drilling program of the
Pitarrilla project sulphide Mineral Resources over an 18-month time
period. We are in the process of evaluating and selecting a
contractor to access and drill these Mineral Resources. If
approved, drilling is expected to commence in the second half of
2020.
A cross-section for the proposed exploration drill program at
the Pitarrilla project is shown in Figure 6.
Figure 1. Drillhole location plan map for the exploration drill
programs at the Marigold mine, Nevada, U.S. during the Exploration
Period.
Figure 2. Drill cross-section along A-A' highlighting the North
Red Dot area at the Marigold mine, Nevada, U.S.
Figure 3. Drill longitudinal section along B-B' highlighting the
South Red Dot area at the Marigold mine, Nevada, U.S.
Figure 4. Longitudinal section for the exploration drill program
at the Santoy mine complex, Seabee Gold Operation, Saskatchewan, Canada during the Exploration
Period.
Figure 5. Cross-section for the exploration drill program,
looking mine grid west, at the Santoy Gap Hanging Wall, Seabee Gold
Operation, Saskatchewan, Canada
during the Exploration Period.
Figure 6. Cross section for the proposed exploration drill
program at the Pitarrilla project, Durango, Mexico.
Table 1. Selected drillhole results from the Marigold mine,
Nevada, U.S. for the Exploration
Period.
Hole
ID
|
From
(meters)
|
To
(meters)
|
Width
(meters)
|
Gold
(g/t)
|
Area
|
MRA6780
|
376.4
|
458.7
|
82.3
|
0.47
|
Red Dot
|
MRA6790
|
318.5
|
371.9
|
53.3
|
5.02
|
North Red
Dot
|
(including)
|
352.0
|
371.9
|
19.8
|
12.53
|
North Red
Dot
|
MRA6793
|
158.5
|
184.4
|
25.9
|
2.80
|
Mackay Pit
|
(including)
|
158.5
|
166.1
|
7.6
|
8.80
|
Mackay Pit
|
MRA6797
|
384.0
|
423.7
|
39.6
|
4.00
|
North Red
Dot
|
(including)
|
385.6
|
405.4
|
19.8
|
6.59
|
North Red
Dot
|
MRA6800
|
391.7
|
428.2
|
36.6
|
2.27
|
North Red
Dot
|
(including)
|
399.3
|
411.5
|
12.2
|
4.38
|
North Red
Dot
|
MRA6802
|
309.4
|
364.2
|
54.9
|
0.63
|
North Red
Dot
|
MRA6804
|
233.2
|
262.1
|
29.0
|
1.22
|
Mackay Pit
|
MRA6809
|
269.7
|
304.8
|
35.1
|
0.70
|
Red Dot
|
and
|
335.3
|
367.3
|
32.0
|
0.99
|
Red Dot
|
MRA6810
|
271.3
|
300.2
|
29.0
|
0.91
|
Red Dot
|
MRA6819
|
388.6
|
413.0
|
24.4
|
0.85
|
North Red
Dot
|
MRA6822
|
190.5
|
221.0
|
30.5
|
0.73
|
Red Dot
|
MRA6834
|
317.0
|
399.3
|
82.3
|
0.67
|
Red Dot
|
and
|
399.3
|
438.9
|
39.6
|
0.74
|
Red Dot
|
MRA6838
|
195.1
|
211.8
|
16.8
|
2.75
|
Red Dot
|
(including)
|
196.6
|
205.7
|
9.1
|
4.69
|
Red Dot
|
and
|
281.9
|
355.1
|
73.2
|
0.44
|
Red Dot
|
MRA6843
|
324.6
|
365.8
|
41.1
|
0.58
|
South Red
Dot
|
MRA6845
|
371.9
|
425.2
|
53.3
|
2.85
|
North Red
Dot
|
MRA6849
|
303.3
|
388.6
|
85.3
|
1.76
|
North Red
Dot
|
(including)
|
349.0
|
359.7
|
10.7
|
3.93
|
North Red
Dot
|
MRA6855
|
312.4
|
356.6
|
44.2
|
0.61
|
North Red
Dot
|
MRA6856
|
150.9
|
164.6
|
13.7
|
1.91
|
South Red
Dot
|
MRA6859
|
309.4
|
364.2
|
54.9
|
0.49
|
South Red
Dot
|
MRA6862
|
361.2
|
374.9
|
13.7
|
1.49
|
North Red
Dot
|
MRA6870
|
435.9
|
458.7
|
22.9
|
1.52
|
North Red
Dot
|
MRA6871
|
333.8
|
362.7
|
29.0
|
0.90
|
South Red
Dot
|
MRA6878
|
225.6
|
342.9
|
117.3
|
0.31
|
South Red
Dot
|
MRA6894
|
214.9
|
265.2
|
50.3
|
1.07
|
South Red
Dot
|
MRA6900
|
4.6
|
19.8
|
15.2
|
2.07
|
Mackay Pit
|
MRA6907
|
39.6
|
64.0
|
24.4
|
0.89
|
Mackay Pit
|
MRA6908
|
16.8
|
35.1
|
18.3
|
1.24
|
Mackay Pit
|
MRA6912
|
24.4
|
61.0
|
36.6
|
0.63
|
Mackay Pit
|
MRA6915
|
74.7
|
94.5
|
19.8
|
1.03
|
Mackay Pit
|
MRA6920
|
210.3
|
253.0
|
42.7
|
0.51
|
South Red
Dot
|
MRA6928
|
205.7
|
251.5
|
45.7
|
0.46
|
South Red
Dot
|
MRA6929
|
213.4
|
260.6
|
47.2
|
1.70
|
South Red
Dot
|
(including)
|
217.9
|
234.7
|
16.8
|
3.36
|
South Red
Dot
|
MRA6937
|
243.8
|
309.4
|
65.5
|
0.48
|
South Red
Dot
|
MRA6942
|
198.1
|
265.2
|
67.1
|
0.40
|
South Red
Dot
|
MRA6943
|
262.1
|
303.3
|
41.1
|
0.85
|
South Red
Dot
|
MRA6944
|
269.7
|
310.9
|
41.1
|
0.60
|
North Red
Dot
|
and
|
342.9
|
457.2
|
114.3
|
0.79
|
North Red
Dot
|
(including)
|
355.1
|
371.9
|
16.8
|
3.17
|
North Red
Dot
|
|
Notes: Width in
meters represents downhole intersected length, which may or may not
be a true thickness of the mineralization. Drillholes presented in
this table have gram-meter product greater than 20. "Width" may not
equal the difference between "To" and "From" due to
rounding.
|
Table 2. Collar locations from the exploration drill programs at
the Marigold mine, Nevada, U.S.
for the Exploration Period.
HOLE
ID
|
UTM-N
(Nad27
Zone11)
|
UTM-E
(Nad27
Zone11)
|
Elevation
(masl)
|
Azimuth
(deg.)
|
Dip
(deg.)
|
Length
(meters)
|
Area
|
MRA6780
|
4507669
|
484606
|
1619
|
86
|
-71
|
459
|
Red Dot
|
MRA6786
|
4508647
|
484878
|
1558
|
91
|
-57
|
261
|
Red Dot
|
MRA6787
|
4507729
|
484922
|
1577
|
89
|
-81
|
367
|
Red Dot
|
MRA6788
|
4507029
|
484662
|
1608
|
86
|
-75
|
428
|
South Red
Dot
|
MR6789
|
4507793
|
484814
|
1608
|
88
|
-89
|
428
|
Red Dot
|
MRA6790
|
4508005
|
484777
|
1590
|
91
|
-76
|
372
|
North Red
Dot
|
MRA6791
|
4508157
|
485322
|
1540
|
89
|
-80
|
261
|
Mackay Pit
|
MRA6792
|
4508157
|
485322
|
1540
|
89
|
-60
|
245
|
Mackay Pit
|
MRA6793
|
4508035
|
485232
|
1539
|
91
|
-80
|
245
|
Mackay Pit
|
MRA6794
|
4507029
|
484754
|
1595
|
85
|
-75
|
404
|
South Red
Dot
|
MRA6795
|
4507974
|
485331
|
1538
|
88
|
-60
|
276
|
Mackay Pit
|
MRA6796
|
4507974
|
485332
|
1538
|
87
|
-46
|
288
|
Mackay Pit
|
MRA6797
|
4507970
|
484759
|
1599
|
95
|
-75
|
425
|
North Red
Dot
|
MRA6798
|
4507576
|
484903
|
1580
|
88
|
-81
|
367
|
Red Dot
|
MRA6799
|
4507908
|
484780
|
1610
|
89
|
-76
|
367
|
North Red
Dot
|
MRA6800
|
4507939
|
484751
|
1608
|
90
|
-74
|
428
|
North Red
Dot
|
MRA6801
|
4508282
|
484831
|
1571
|
91
|
-75
|
352
|
North Red
Dot
|
MRA6802
|
4508003
|
484860
|
1569
|
88
|
-75
|
398
|
North Red
Dot
|
MRA6803
|
4507303
|
485136
|
1615
|
79
|
-86
|
383
|
Mackay Pit
|
MRA6804
|
4507303
|
485137
|
1615
|
87
|
-76
|
367
|
Mackay Pit
|
MRA6805
|
4507711
|
484668
|
1612
|
91
|
-80
|
372
|
North Red
Dot
|
MR6806
|
4508190
|
484821
|
1575
|
99
|
-89
|
383
|
North Red
Dot
|
MRA6807
|
4508190
|
484821
|
1575
|
91
|
-74
|
349
|
North Red
Dot
|
MRA6808
|
4507090
|
485018
|
1615
|
90
|
-69
|
367
|
Red Dot
|
MRA6809
|
4507425
|
484606
|
1605
|
87
|
-76
|
367
|
Red Dot
|
MRA6810
|
4507636
|
484906
|
1577
|
83
|
-75
|
367
|
Red Dot
|
MRA6811
|
4507636
|
484906
|
1577
|
83
|
-65
|
367
|
Red Dot
|
MRA6812
|
4507241
|
484588
|
1610
|
95
|
-80
|
428
|
Red Dot
|
MRA6813
|
4507413
|
485153
|
1610
|
83
|
-62
|
322
|
Red Dot
|
MRA6814
|
4508216
|
485507
|
1524
|
90
|
-71
|
255
|
Mackay Pit
|
MRA6815
|
4508188
|
485516
|
1524
|
89
|
-85
|
215
|
Mackay Pit
|
MRA6816
|
4507638
|
484831
|
1583
|
78
|
-75
|
383
|
Red Dot
|
MRA6817
|
4507152
|
484980
|
1599
|
84
|
-74
|
383
|
Red Dot
|
MRA6818
|
4507152
|
484980
|
1599
|
85
|
-65
|
383
|
Red Dot
|
MRA6819
|
4507878
|
484810
|
1616
|
90
|
-74
|
413
|
North Red
Dot
|
MRA6820
|
4508095
|
485520
|
1523
|
88
|
-64
|
215
|
Mackay Pit
|
MRA6821
|
4508157
|
485398
|
1524
|
88
|
-64
|
215
|
Mackay Pit
|
MRA6822
|
4507633
|
485070
|
1584
|
85
|
-55
|
322
|
Red Dot
|
MRA6823
|
4507633
|
485071
|
1584
|
85
|
-64
|
322
|
Red Dot
|
MRA6824
|
4507432
|
485238
|
1629
|
91
|
-71
|
337
|
Mackay Pit
|
MRA6825
|
4507431
|
485238
|
1629
|
92
|
-51
|
352
|
Mackay Pit
|
MRA6826
|
4507610
|
485070
|
1588
|
86
|
-69
|
337
|
Red Dot
|
MRA6827
|
4507455
|
485240
|
1632
|
91
|
-75
|
337
|
Mackay Pit
|
MRA6828
|
4507576
|
485186
|
1608
|
87
|
-63
|
306
|
Red Dot
|
MRA6829
|
4507578
|
485011
|
1587
|
84
|
-79
|
347
|
Red Dot
|
MRA6830
|
4507578
|
485013
|
1587
|
93
|
-69
|
328
|
Red Dot
|
MRA6831
|
4507577
|
485186
|
1608
|
88
|
-55
|
306
|
Red Dot
|
MRA6832
|
4507577
|
485187
|
1608
|
86
|
-47
|
306
|
Red Dot
|
MRA6833
|
4507605
|
485170
|
1609
|
84
|
-65
|
322
|
Red Dot
|
MRA6834
|
4507394
|
484695
|
1595
|
84
|
-79
|
443
|
Red Dot
|
MRA6835
|
4507029
|
484839
|
1601
|
87
|
-69
|
383
|
South Red
Dot
|
MRA6836
|
4507852
|
484710
|
1621
|
89
|
-76
|
428
|
North Red
Dot
|
MRA6837
|
4507731
|
484900
|
1577
|
86
|
-81
|
367
|
North Red
Dot
|
MRA6838
|
4507268
|
484609
|
1605
|
87
|
-84
|
459
|
Red Dot
|
MRA6839
|
4507721
|
484665
|
1611
|
79
|
-83
|
428
|
North Red
Dot
|
MRA6840
|
4507029
|
485031
|
1618
|
85
|
-65
|
383
|
South Red
Dot
|
MRA6841
|
4507029
|
485030
|
1618
|
82
|
-79
|
383
|
South Red
Dot
|
MRA6842
|
4507608
|
484592
|
1607
|
84
|
-74
|
338
|
Red Dot
|
MRA6843
|
4507029
|
485031
|
1618
|
82
|
-54
|
383
|
South Red
Dot
|
MRA6844
|
4507879
|
484742
|
1619
|
85
|
-83
|
459
|
North Red
Dot
|
MRA6845
|
4508095
|
484743
|
1582
|
83
|
-76
|
459
|
North Red
Dot
|
MRA6846
|
4507791
|
484722
|
1610
|
86
|
-73
|
413
|
North Red
Dot
|
MRA6847
|
4507793
|
484673
|
1611
|
85
|
-80
|
209
|
North Red
Dot
|
MRA6848
|
4506846
|
484970
|
1625
|
88
|
-56
|
401
|
South Red
Dot
|
MRA6849
|
4508073
|
484808
|
1580
|
89
|
-71
|
459
|
North Red
Dot
|
DDH6850
|
4507026
|
484885
|
1601
|
189
|
-78
|
366
|
Red Dot
|
DDH6851
|
4507077
|
484563
|
1609
|
59
|
-71
|
362
|
Red Dot
|
DDH6852
|
4507517
|
484713
|
1598
|
322
|
-78
|
350
|
Red Dot
|
MRA6853
|
4508154
|
484745
|
1580
|
85
|
-71
|
459
|
North Red
Dot
|
MRA6854
|
4507853
|
484673
|
1623
|
84
|
-75
|
459
|
North Red
Dot
|
MRA6855
|
4508157
|
484802
|
1578
|
86
|
-64
|
428
|
North Red
Dot
|
MRA6856
|
4506694
|
485112
|
1626
|
93
|
-61
|
367
|
South Red
Dot
|
MRA6857
|
4506692
|
484666
|
1616
|
89
|
-60
|
428
|
South Red
Dot
|
MRA6858
|
4507671
|
484807
|
1591
|
82
|
-76
|
224
|
North Red
Dot
|
MRA6859
|
4506994
|
484941
|
1605
|
86
|
-75
|
413
|
South Red
Dot
|
MRA6860
|
4507850
|
484814
|
1615
|
87
|
-66
|
413
|
North Red
Dot
|
MRA6861
|
4506994
|
484942
|
1605
|
85
|
-66
|
413
|
South Red
Dot
|
MRA6862
|
4508126
|
484751
|
1581
|
83
|
-71
|
459
|
North Red
Dot
|
MRA6863
|
4507946
|
484667
|
1612
|
87
|
-75
|
459
|
North Red
Dot
|
DDH6864
|
4507212
|
484756
|
1591
|
89
|
-74
|
427
|
Red Dot
|
DDH6865
|
4507212
|
484808
|
1591
|
89
|
-75
|
400
|
Red Dot
|
MRA6866
|
4507975
|
484681
|
1612
|
86
|
-75
|
386
|
North Red
Dot
|
MRA6867
|
4508030
|
484799
|
1586
|
85
|
-75
|
306
|
North Red
Dot
|
DDH6868
|
4507181
|
484796
|
1592
|
88
|
-65
|
426
|
Red Dot
|
DDH6869
|
4507181
|
484759
|
1591
|
95
|
-69
|
397
|
Red Dot
|
MRA6870
|
4507919
|
484677
|
1620
|
83
|
-70
|
459
|
North Red
Dot
|
MRA6871
|
4506692
|
484931
|
1614
|
91
|
-64
|
398
|
South Red
Dot
|
MRA6872
|
4506788
|
485016
|
1626
|
92
|
-60
|
413
|
South Red
Dot
|
MRA6873
|
4506814
|
484999
|
1626
|
89
|
-60
|
410
|
South Red
Dot
|
MRA6874
|
4506878
|
484999
|
1625
|
86
|
-58
|
419
|
South Red
Dot
|
MRA6875
|
4506731
|
485022
|
1626
|
88
|
-62
|
459
|
South Red
Dot
|
DDH6876
|
4507181
|
484710
|
1599
|
86
|
-70
|
407
|
Red Dot
|
DDH6877
|
4507210
|
484698
|
1598
|
93
|
-75
|
433
|
Red Dot
|
MRA6878
|
4506907
|
484973
|
1625
|
88
|
-70
|
428
|
South Red
Dot
|
MRA6879
|
4506905
|
484970
|
1625
|
86
|
-50
|
419
|
South Red
Dot
|
MRA6880
|
4506953
|
485042
|
1621
|
109
|
-45
|
325
|
South Red
Dot
|
MRA6881
|
4506694
|
484848
|
1608
|
88
|
-60
|
413
|
South Red
Dot
|
MRA6882
|
4506691
|
485012
|
1626
|
88
|
-60
|
416
|
South Red
Dot
|
MRA6883
|
4506815
|
484997
|
1626
|
93
|
-44
|
355
|
South Red
Dot
|
MR6884
|
4506785
|
485012
|
1626
|
137
|
-89
|
398
|
South Red
Dot
|
MRA6885
|
4506785
|
485012
|
1626
|
88
|
-79
|
398
|
South Red
Dot
|
DDH6886
|
4507242
|
484794
|
1590
|
92
|
-67
|
442
|
Red Dot
|
MRA6887
|
4506729
|
485021
|
1626
|
88
|
-76
|
459
|
South Red
Dot
|
DDH6888
|
4507242
|
484753
|
1590
|
90
|
-69
|
442
|
Red Dot
|
DDH6889
|
4507243
|
484688
|
1602
|
89
|
-69
|
442
|
Red Dot
|
MRA6890
|
4506694
|
485113
|
1626
|
88
|
-49
|
337
|
South Red
Dot
|
MRA6891
|
4506847
|
484971
|
1625
|
88
|
-66
|
440
|
South Red
Dot
|
MRA6892
|
4506847
|
484971
|
1625
|
86
|
-44
|
459
|
South Red
Dot
|
MRA6893
|
4506907
|
484972
|
1625
|
89
|
-60
|
428
|
South Red
Dot
|
MRA6894
|
4506785
|
485112
|
1625
|
90
|
-55
|
306
|
South Red
Dot
|
MRA6895
|
4508098
|
485648
|
1495
|
267
|
-85
|
215
|
Mackay Pit
|
MRA6896
|
4508093
|
485649
|
1495
|
110
|
-80
|
215
|
Mackay Pit
|
MRA6897
|
4508095
|
485648
|
1495
|
93
|
-61
|
194
|
Mackay Pit
|
MRA6898
|
4508036
|
485639
|
1502
|
284
|
-75
|
215
|
Mackay Pit
|
MRA6899
|
4508035
|
485630
|
1503
|
283
|
-51
|
245
|
Mackay Pit
|
MRA6900
|
4508010
|
485570
|
1509
|
307
|
-74
|
215
|
Mackay Pit
|
MRA6901
|
4508010
|
485569
|
1509
|
310
|
-60
|
230
|
Mackay Pit
|
MR6902
|
4508010
|
485570
|
1509
|
269
|
-90
|
215
|
Mackay Pit
|
MRA6903
|
4508034
|
485631
|
1503
|
103
|
-80
|
215
|
Mackay Pit
|
MRA6904
|
4508035
|
485632
|
1502
|
86
|
-49
|
194
|
Mackay Pit
|
MRA6905
|
4508004
|
485574
|
1509
|
94
|
-74
|
215
|
Mackay Pit
|
MRA6906
|
4508004
|
485574
|
1509
|
89
|
-59
|
230
|
Mackay Pit
|
MRA6907
|
4507995
|
485541
|
1512
|
103
|
-53
|
245
|
Mackay Pit
|
MRA6908
|
4507995
|
485541
|
1512
|
98
|
-70
|
215
|
Mackay Pit
|
MR6909
|
4507975
|
485469
|
1519
|
217
|
-89
|
230
|
Mackay Pit
|
MRA6910
|
4507975
|
485470
|
1519
|
90
|
-69
|
245
|
Mackay Pit
|
MRA6912
|
4507943
|
485406
|
1528
|
88
|
-75
|
268
|
Mackay Pit
|
MR6913
|
4507943
|
485406
|
1528
|
106
|
-89
|
230
|
Mackay Pit
|
MRA6914
|
4507882
|
485355
|
1536
|
86
|
-84
|
245
|
Mackay Pit
|
MRA6915
|
4507914
|
485379
|
1532
|
93
|
-69
|
245
|
Mackay Pit
|
MR6916
|
4507856
|
485314
|
1541
|
128
|
-89
|
203
|
Mackay Pit
|
MRA6917
|
4507856
|
485314
|
1541
|
90
|
-80
|
276
|
Mackay Pit
|
MRA6918
|
4506655
|
485104
|
1629
|
92
|
-80
|
367
|
South Red
Dot
|
MRA6919
|
4506654
|
485105
|
1629
|
88
|
-70
|
398
|
South Red
Dot
|
MRA6920
|
4506654
|
485105
|
1629
|
91
|
-60
|
367
|
South Red
Dot
|
MRA6921
|
4508217
|
485450
|
1478
|
92
|
-69
|
154
|
Mackay Pit
|
MRA6922
|
4508218
|
485413
|
1478
|
89
|
-70
|
123
|
Mackay Pit
|
MRA6923
|
4506601
|
485108
|
1629
|
90
|
-80
|
319
|
South Red
Dot
|
MRA6924
|
4506601
|
485107
|
1629
|
91
|
-65
|
370
|
South Red
Dot
|
MR6925
|
4506570
|
485110
|
1629
|
66
|
-89
|
367
|
South Red
Dot
|
MRA6926
|
4506570
|
485110
|
1629
|
87
|
-74
|
367
|
South Red
Dot
|
MR6927
|
4506634
|
485104
|
1629
|
270
|
-90
|
367
|
South Red
Dot
|
MRA6928
|
4506551
|
485113
|
1629
|
87
|
-74
|
398
|
South Red
Dot
|
MRA6929
|
4506570
|
485110
|
1629
|
89
|
-65
|
367
|
South Red
Dot
|
MRA6930
|
4506551
|
485114
|
1629
|
91
|
-60
|
367
|
South Red
Dot
|
MRA6931
|
4506725
|
485052
|
1626
|
88
|
-60
|
343
|
South Red
Dot
|
MRA6932
|
4506754
|
485119
|
1625
|
87
|
-80
|
312
|
South Red
Dot
|
MRA6933
|
4506662
|
485025
|
1627
|
94
|
-75
|
413
|
South Red
Dot
|
MR6934
|
4506630
|
485015
|
1628
|
109
|
-89
|
379
|
South Red
Dot
|
MRA6935
|
4506541
|
484991
|
1628
|
87
|
-75
|
453
|
South Red
Dot
|
MRA6936
|
4506508
|
485046
|
1630
|
84
|
-69
|
331
|
South Red
Dot
|
MRA6937
|
4506511
|
484991
|
1628
|
95
|
-69
|
383
|
South Red
Dot
|
MRA6938
|
4506542
|
485047
|
1630
|
91
|
-74
|
337
|
South Red
Dot
|
MRA6939
|
4506603
|
484982
|
1627
|
90
|
-71
|
367
|
South Red
Dot
|
MR6940
|
4506572
|
484984
|
1628
|
87
|
-90
|
367
|
South Red
Dot
|
MRA6941
|
4506572
|
484985
|
1628
|
86
|
-70
|
392
|
South Red
Dot
|
MRA6942
|
4506602
|
484904
|
1615
|
92
|
-70
|
383
|
South Red
Dot
|
MRA6943
|
4506843
|
484851
|
1606
|
87
|
-74
|
416
|
South Red
Dot
|
MRA6944
|
4507913
|
484708
|
1623
|
84
|
-70
|
459
|
North Red
Dot
|
MRA6945
|
4506877
|
484870
|
1606
|
91
|
-70
|
422
|
South Red
Dot
|
MRA6946
|
4506877
|
484871
|
1606
|
93
|
-46
|
413
|
South Red
Dot
|
MRA6947
|
4506872
|
484849
|
1604
|
86
|
-79
|
428
|
South Red
Dot
|
MRA6948
|
4507825
|
485289
|
1545
|
91
|
-78
|
221
|
Mackay Pit
|
MRA6949
|
4507796
|
485267
|
1548
|
90
|
-74
|
276
|
Mackay Pit
|
MRA6950
|
4507796
|
485268
|
1548
|
88
|
-60
|
276
|
Mackay Pit
|
MRA6951
|
4507670
|
485080
|
1568
|
85
|
-69
|
367
|
North Red
Dot
|
MRA6952
|
4508007
|
484718
|
1602
|
88
|
-76
|
459
|
North Red
Dot
|
MRA6953
|
4508034
|
484699
|
1599
|
85
|
-75
|
459
|
North Red
Dot
|
MR6954
|
4506752
|
484928
|
1611
|
123
|
-90
|
383
|
South Red
Dot
|
MRA6955
|
4503250
|
485775
|
1792
|
91
|
-73
|
367
|
East
Basalt
|
MRA6956
|
4503221
|
485762
|
1796
|
89
|
-68
|
367
|
East
Basalt
|
MRA6957
|
4508006
|
484776
|
1590
|
84
|
-66
|
459
|
North Red
Dot
|
MRA6958
|
4507974
|
484752
|
1601
|
85
|
-67
|
459
|
North Red
Dot
|
MRA6959
|
4506693
|
484751
|
1605
|
92
|
-60
|
413
|
South Red
Dot
|
MRA6960
|
4503545
|
485967
|
1838
|
90
|
-65
|
367
|
East
Basalt
|
MRA6961
|
4503529
|
485944
|
1836
|
90
|
-75
|
367
|
East
Basalt
|
MRA6962
|
4503529
|
485944
|
1836
|
85
|
-60
|
367
|
East
Basalt
|
MRA6963
|
4504712
|
487137
|
1853
|
273
|
-65
|
343
|
Valmy
|
MR6964
|
4504651
|
487125
|
1851
|
36
|
-90
|
367
|
Valmy
|
MRA6965
|
4504625
|
487124
|
1851
|
263
|
-58
|
383
|
Valmy
|
MRA6967
|
4507943
|
484793
|
1603
|
88
|
-75
|
459
|
North Red
Dot
|
MR6968
|
4503341
|
485894
|
1867
|
261
|
-89
|
367
|
East
Basalt
|
MRA6969
|
4503341
|
485895
|
1867
|
88
|
-79
|
367
|
East
Basalt
|
MRA6970
|
4503341
|
485895
|
1867
|
90
|
-70
|
367
|
East
Basalt
|
MR6971
|
4504591
|
487116
|
1853
|
218
|
-89
|
411
|
Valmy
|
MR6972
|
4504589
|
487156
|
1856
|
321
|
-89
|
398
|
Valmy
|
MR6974
|
4505236
|
487534
|
1775
|
139
|
-89
|
367
|
Cross Fire
|
MR6975
|
4505205
|
487561
|
1773
|
135
|
-89
|
428
|
Cross Fire
|
MR6976
|
4504432
|
487363
|
1895
|
324
|
-89
|
440
|
Valmy
|
MRA6977
|
4504289
|
487504
|
1921
|
267
|
-73
|
398
|
Valmy
|
MRA6978
|
4504956
|
487459
|
1858
|
264
|
-64
|
459
|
Cross Fire
|
MRA6979
|
4504955
|
487455
|
1858
|
275
|
-65
|
410
|
Cross Fire
|
|
Notes: The numerical
gaps in the drillhole sequence result from drillholes reported
previously or drillholes expected to be drilled in 2019. Data is
provided if the drillhole has a Mineral Resource intercept of at
least six meters at 0.3 g/t gold.
|
Table 3. Selected drillhole results from Seabee Gold Operation,
Saskatchewan, Canada for the
Exploration Period.
Hole
ID
|
From
(meters)
|
To
(meters)
|
Mine E
(midpoint)1
|
Mine N
(midpoint)1
|
Elevation
(midpoint)1
|
Gold
(g/t)2
|
True Width
(meters)
|
Zone
|
SUG-18-023
|
454.9
|
461.6
|
3754.0
|
5307.0
|
-784.3
|
20.17
|
2.08
|
Santoy 9A
|
SUG-18-636
|
200.6
|
213.6
|
4101.4
|
5258.6
|
-423.1
|
9.96
|
10.66
|
Gap HW
|
SUG-18-637
|
174.8
|
188.7
|
4120.0
|
5229.6
|
-393.0
|
4.48
|
11.75
|
Gap HW
|
SUG-18-638
|
196.5
|
210.0
|
4115.1
|
5255.2
|
-417.5
|
6.59
|
10.16
|
Gap HW
|
SUG-18-639
|
286.5
|
297.0
|
4123.9
|
5347.7
|
-441.9
|
4.21
|
7.05
|
Gap HW
|
SUG-18-641
|
384.0
|
390.4
|
3996.9
|
5395.7
|
-550.3
|
5.33
|
1.70
|
Gap HW
|
JOY-18-837
|
682.2
|
686.2
|
3674.9
|
5171.2
|
-672.4
|
18.08
|
3.14
|
Santoy 9A
|
JOY-18-850
|
15.2
|
15.8
|
4318.4
|
4727.5
|
-1.1
|
23.50
|
0.56
|
Santoy 9C
|
JOY-18-851
|
29.6
|
33.0
|
4318.8
|
4736.9
|
-20.5
|
9.43
|
2.02
|
Santoy 9C
|
SUG-18-967
|
160.5
|
163.6
|
4222.2
|
5287.1
|
-616.7
|
18.15
|
2.38
|
Santoy 8A
|
SUG-18-968
|
218.6
|
223.1
|
4226.9
|
5329.7
|
-672.2
|
19.23
|
2.65
|
Santoy 8A
|
SUG-18-978
|
212.7
|
220.3
|
4156.7
|
5305.9
|
-663.5
|
9.78
|
5.04
|
Santoy 8A
|
SUG-19-006
|
135.5
|
139.9
|
4464.5
|
5103.8
|
-109.0
|
23.27
|
4.00
|
Gap HW
|
SUG-19-009
|
238.9
|
244.5
|
4357.2
|
5143.7
|
-168.1
|
4.88
|
2.19
|
Gap HW
|
SUG-19-012
|
134.3
|
138.6
|
4482.7
|
5137.5
|
-98.8
|
5.05
|
3.95
|
Gap HW
|
SUG-19-013
|
210.0
|
222.2
|
4398.5
|
5176.7
|
-183.5
|
9.26
|
5.30
|
Gap HW
|
SUG-19-600
|
216.0
|
221.5
|
4087.6
|
5267.4
|
-439.3
|
10.98
|
4.06
|
Gap HW
|
SUG-19-601
|
266.0
|
313.7
|
4064.0
|
5333.0
|
-481.4
|
7.01
|
18.20
|
Gap HW
|
SUG-19-602
|
377.2
|
384.0
|
4018.3
|
5403.4
|
-542.3
|
5.70
|
3.50
|
Gap HW
|
SUG-19-604
|
507.2
|
514.5
|
4062.5
|
5552.3
|
-529.6
|
8.44
|
3.95
|
Gap HW
|
SUG-19-605
|
435.0
|
441.0
|
4209.1
|
5494.9
|
-458.4
|
13.72
|
4.24
|
Gap HW
|
SUG-19-606
|
417.5
|
420.6
|
4235.2
|
5472.3
|
-435.9
|
6.28
|
2.20
|
Gap HW
|
JOY-19-852
|
330.0
|
333.7
|
4192.6
|
5182.2
|
-311.0
|
3.55
|
3.37
|
Gap HW
|
JOY-19-855
|
298.8
|
303.6
|
4249.9
|
5183.2
|
-283.5
|
12.04
|
4.06
|
Gap HW
|
JOY-19-856
|
266.5
|
274.9
|
4278.5
|
5173.7
|
-244.6
|
4.95
|
4.23
|
Gap HW
|
JOY-19-857
|
287.1
|
290.6
|
4274.3
|
5239.0
|
-284.6
|
4.20
|
3.18
|
Gap HW
|
JOY-19-860
|
401.6
|
405.7
|
4197.0
|
5293.0
|
-372.7
|
3.90
|
3.46
|
Gap HW
|
JOY-19-866
|
176.2
|
181.2
|
4355.5
|
5082.0
|
-133.4
|
4.07
|
4.93
|
Gap HW
|
JOY-19-882
|
192.2
|
195.0
|
4400.8
|
5071.7
|
-125.8
|
12.03
|
2.69
|
Gap HW
|
JOY-19-884
|
190.0
|
199.7
|
4451.4
|
5147.6
|
-129.2
|
4.28
|
9.48
|
Gap HW
|
JOY-19-886
|
187.6
|
195.0
|
4445.8
|
5227.5
|
-126.7
|
4.01
|
6.98
|
Gap HW
|
JOY-19-887
|
86.4
|
91.4
|
4408.4
|
5047.0
|
-80.9
|
4.86
|
4.51
|
Gap HW
|
JOY-19-888
|
89.7
|
100.1
|
4427.0
|
5060.6
|
-90.7
|
5.69
|
9.05
|
Gap HW
|
JOY-19-889
|
80.5
|
86.5
|
4454.1
|
5077.7
|
-72.9
|
12.95
|
4.93
|
Gap HW
|
JOY-19-890
|
112.0
|
118.7
|
4491.0
|
5095.5
|
-84.9
|
3.91
|
4.19
|
Gap HW
|
JOY-19-891
|
560.9
|
568.0
|
3993.5
|
5541.5
|
-539.0
|
9.16
|
5.80
|
Gap HW
|
and
|
582.0
|
585.2
|
3994.2
|
5535.2
|
-557.1
|
4.38
|
2.60
|
Gap HW
|
JOY-19-893
|
520.5
|
523.5
|
3955.2
|
5472.4
|
-466.3
|
7.09
|
2.90
|
Gap HW
|
and
|
647.0
|
654.1
|
3948.3
|
5402.0
|
-573.6
|
6.70
|
6.80
|
Gap HW
|
JOY-19-896
|
382.7
|
389.2
|
4440.8
|
5404.1
|
-364.2
|
5.73
|
3.40
|
Gap HW
|
and
|
490.4
|
495.0
|
4474.2
|
5381.2
|
-462.9
|
3.65
|
2.50
|
Gap HW
|
JOY-19-900
|
647.6
|
655.4
|
3988.4
|
5345.4
|
-540.5
|
11.05
|
5.80
|
Gap HW
|
SUG-19-900
|
281.5
|
283.1
|
4091.4
|
5321.0
|
-708.5
|
10.32
|
0.93
|
Santoy 8A
|
SUG-19-902
|
317.0
|
322.5
|
4123.3
|
5315.4
|
-756.8
|
11.51
|
3.51
|
Santoy 9A
|
SUG-19-903
|
380.7
|
383.9
|
4004.2
|
5304.0
|
-775.8
|
8.04
|
1.78
|
Santoy 9A
|
SUG-19-906
|
293.2
|
295.1
|
4131.2
|
5288.7
|
-738.0
|
41.43
|
1.32
|
Santoy 9A
|
BAT-19-001
3
|
113.3
|
114.8
|
600364.0
|
6168678.0
|
377.0
|
6.28
|
1.49
|
Riddler
|
BAT-19-002
3
|
72.0
|
72.5
|
600343.0
|
6168732.0
|
410.0
|
6.08
|
0.50
|
Riddler
|
BAT-19-003
3
|
188.6
|
189.6
|
600271.0
|
6169032.0
|
280.0
|
6.36
|
1.00
|
Riddler
|
JOY-19-871
3
|
69.2
|
70.1
|
600204.0
|
6169731.0
|
376.0
|
5.77
|
0.90
|
Santoy 8E
|
JOY-19-873
3
|
283.2
|
284.7
|
600029.0
|
6170017.0
|
176.0
|
5.97
|
1.50
|
Santoy 8E
|
EDD-19-008
3
|
197.0
|
197.9
|
598896.0
|
6164849.0
|
251.0
|
3.57
|
0.89
|
DD
|
FIS-18-021
3
|
255.2
|
255.9
|
604073.0
|
6160289.0
|
214.0
|
9.73
|
0.66
|
Mac
|
FIS-19-030
3
|
138.5
|
140.0
|
604061.0
|
6160681.0
|
273.0
|
6.80
|
1.50
|
Mac
|
FIS-19-035
3
|
107.5
|
109.0
|
603929.0
|
6161441.0
|
300.0
|
7.31
|
1.55
|
Mac
|
and
|
362.2
|
366.4
|
603787.0
|
6161422.0
|
88.0
|
3.76
|
4.18
|
Mac
|
(including)
|
365.6
|
366.4
|
603786.0
|
6161422.0
|
87.0
|
13.72
|
0.73
|
Mac
|
|
Notes: Drillholes
presented in this table have gram-meter product greater than 9. For
the Riddler, Santoy 8E, DD and Mac areas, width in meters
represents downhole intersected length, which may or may not be a
true thickness of the mineralization.
|
1 Midpoints of the intercept
determined where mineralized structure
intersected.
|
2 Gold values cut to 75
g/t.
|
3
Coordinates in UTM NAD83 Zone 13 Datum.
|
Sampling and Analytical Procedures
All drill samples in respect of the Marigold mine drilling
program were sent for processing and analysis to the offices of
American Assay Laboratories, Inc. ("AAL") in Sparks, Nevada which is an ISO 17025
accredited laboratory independent from SSR Mining. Fire assay was
completed on a 30-gram sample (AAL method code FA-PB30-ICP) with an
Inductively Coupled Plasma finish after a two acid digestion.
Samples with assay results greater than 10 g/t gold were fire
assayed on a 30-gram sample (AAL method code Grav Au30) with a
gravimetric finish. We employ a rigorous Quality Assurance/Quality
Control ("QA/QC") program, which includes real-time assay quality
monitoring through the regular insertion of blanks, duplicates, and
certified reference material, as well as reviewing
laboratory-provided QA/QC data.
All drill samples in respect of the Seabee Gold Operation
drilling program were assayed by our onsite non-accredited assay
laboratory, which is not independent from SSR Mining. Duplicate
check assays were conducted at site as well as at TSL Laboratories
Inc. in Saskatoon, Saskatchewan,
which is independent from SSR Mining. Results of the spot checks
were consistent with those reported. Sampling interval was
established by minimum or maximum sampling lengths and geological
and/or structural criteria. Two hundred gram samples were
pulverized until greater than 80 percent passed through 150 mesh
screen. Thirty-gram pulp samples were then analyzed for gold by
fire assay with gravimetric finish (0.01 g/t gold detection
limit).
Qualified Persons
The scientific and technical data contained in this news release
relating to the Marigold mine has been reviewed and approved by
James N. Carver, SME Registered
Member and a qualified person under National Instrument 43-101 —
Standards of Disclosure for Mineral Projects ("NI 43-101").
Mr. Carver is our Chief Geologist at the Marigold mine. The
scientific and technical data contained in this news release
relating to the Seabee Gold Operation has been reviewed and
approved by Jeffrey Kulas, P. Geo.,
a qualified person under NI 43-101. Mr. Kulas is our Manager
Geology, Mining Operations at the Seabee Gold Operation. The
qualified persons have verified the information disclosed herein,
including the sampling, preparation, security and analytical
procedures underlying such information, and are not aware of any
significant risks and uncertainties that could be expected to
affect the reliability or confidence in the information discussed
herein.
About SSR Mining
SSR Mining Inc. is a Canadian-based precious metals producer
with three operations, including the Marigold mine in Nevada, U.S., the Seabee Gold Operation in
Saskatchewan, Canada and the
75%-owned and operated Puna Operations joint venture in Jujuy,
Argentina. We also have two
feasibility stage projects and a portfolio of exploration
properties in North and South
America. We are committed to delivering safe production
through relentless emphasis on Operational Excellence. We are also
focused on growing production and Mineral Reserves through the
exploration and acquisition of assets for accretive growth, while
maintaining financial strength.
For further information contact:
W. John DeCooman, Jr.
Senior Vice President, Business Development and Strategy
SSR Mining Inc.
Vancouver, BC
Toll free: +1 (888) 338-0046
All others: +1 (604) 689-3846
E-Mail: invest@ssrmining.com
To receive SSR Mining's news releases by e-mail, please
register using the SSR Mining website at
www.ssrmining.com.
Cautionary Note Regarding Forward-Looking
Statements
This news release contains forward-looking information within
the meaning of Canadian securities laws and forward-looking
statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 (collectively, "forward-looking
statements") concerning the anticipated developments in our
operations in future periods, and other events or conditions that
may occur or exist in the future. All statements, other than
statements of historical fact, are forward-looking
statements.
Generally, forward-looking statements can be identified by
the use of words or phrases such as "expects," "anticipates,"
"plans," "projects," "estimates," "assumes," "intends," "strategy,"
"goals," "objectives," "potential," or variations thereof, or
stating that certain actions, events or results "may," "could,"
"would," "might" or "will" be taken, occur or be achieved, or the
negative of any of these terms or similar expressions. The
forward-looking statements in this news release relate to, among
other things: our ability to discover and increase Mineral
Resources, replace and increase Mineral Reserves, convert Mineral
Resources to Mineral Reserves and convert Inferred Mineral
Resources to Indicated Mineral Resources at the Marigold mine and
the Seabee Gold Operation, including (a) converting Mineral
Resources and adding Mineral Reserves at Red Dot at year-end 2019
and increasing Mineral Resources and Mineral Reserves at the
Marigold mine at year-end 2019 and (b) increasing Mineral Resources
at Santoy Gap HW at year-end 2019, increasing Inferred Mineral
Resources near the Santoy mine at year-end 2019 and adding Inferred
Mineral Resources at the Seabee Gold Operation and Fisher property
at year-end 2019; expected timing for our exploration program at
the Trenton Canyon property in the third quarter of 2019; expected
timing for evaluation of Santoy GAP HW mining alternatives in 2020;
our expected drill programs at each of the Marigold mine, the
Seabee Gold Operation and the Pitarrilla project; estimated mine
life, including anticipated extension of the mine life of the
Marigold mine and the Seabee Gold Operation; estimated project
economics; anticipated timing for the commencement of drilling at
the Pitarrilla project in the second half of 2020; future
production of gold, silver and other metals; estimated production
rates for gold, silver and other metals produced by us; ongoing or
future development plans and capital replacement, improvement or
remediation programs; and our plans and expectations for our
properties and operations.
These forward-looking statements are subject to a variety of
known and unknown risks, uncertainties and other factors that could
cause actual events or results to differ from those expressed or
implied, including, without limitation, the following: uncertainty
of production, development plans and cost estimates for the
Marigold mine, the Seabee Gold Operation, Puna Operations and our
projects; our ability to replace Mineral Reserves; commodity price
fluctuations; political or economic instability and unexpected
regulatory changes; currency fluctuations; the possibility of
future losses; general economic conditions; counterparty and market
risks related to the sale of our concentrates and metals;
uncertainty in the accuracy of Mineral Reserves and Mineral
Resources estimates and in our ability to extract mineralization
profitably; differences in U.S. and Canadian practices for
reporting Mineral Reserves and Mineral Resources; lack of suitable
infrastructure or damage to existing infrastructure; future
development risks, including start-up delays and cost overruns; our
ability to obtain adequate financing for further exploration and
development programs and opportunities; uncertainty in acquiring
additional commercially mineable mineral rights; delays in
obtaining or failure to obtain governmental permits, or
non-compliance with our permits; our ability to attract and retain
qualified personnel and management; the impact of governmental
regulations, including health, safety and environmental
regulations, including increased costs and restrictions on
operations due to compliance with such regulations; unpredictable
risks and hazards related to the development and operation of a
mine or mineral property that are beyond our control; reclamation
and closure requirements for our mineral properties; potential
labour unrest, including labour actions by our unionized employees
at Puna Operations; indigenous peoples' title claims and rights to
consultation and accommodation may affect our existing operations
as well as development projects and future acquisitions; certain
transportation risks that could have a negative impact on our
ability to operate; assessments by taxation authorities in multiple
jurisdictions; recoverability of value added tax and Puna credits
balance and significant delays in the collection process in
Argentina; claims and legal
proceedings, including adverse rulings in litigation against us
and/or our directors or officers; compliance with anti-corruption
laws and internal controls, and increased regulatory compliance
costs; complying with emerging climate change regulations and the
impact of climate change; fully realizing our interest in deferred
consideration received in connection with recent divestitures;
fully realizing the value of our shareholdings in our marketable
securities, due to changes in price, liquidity or disposal cost of
such marketable securities; uncertainties related to title to our
mineral properties and the ability to obtain surface rights; the
sufficiency of our insurance coverage; civil disobedience in the
countries where our mineral properties are located; operational
safety and security risks; actions required to be taken by us under
human rights law; competition in the mining industry for mineral
properties; our ability to complete and successfully integrate an
announced acquisition; reputation loss resulting in decreased
investor confidence; increased challenges in developing and
maintaining community relations and an impediment to our overall
ability to advance our projects; risks normally associated with the
conduct of joint ventures; an event of default under our 2013
convertible notes or our 2019 convertible notes may significantly
reduce our liquidity and adversely affect our business; failure to
meet covenants under our senior secured revolving credit facility;
information systems security threats; conflicts of interest that
could arise from certain of our directors' and officers'
involvement with other natural resource companies; other risks
related to our common shares; and those other various risks and
uncertainties identified under the heading "Risk Factors" in our
most recent Annual Information Form filed with the Canadian
securities regulatory authorities and included in our most recent
Annual Report on Form 40-F filed with the U.S. Securities and
Exchange Commission ("SEC").
This list is not exhaustive of the factors that may affect
any of our forward-looking statements. Our forward-looking
statements are based on what our management currently considers to
be reasonable assumptions, beliefs, expectations and opinions based
on the information currently available to it. Assumptions have been
made regarding, among other things: our ability to carry on our
exploration and development activities; our ability to meet our
obligations under our property agreements; the timing and results
of drilling programs; the discovery of Mineral Resources and
Mineral Reserves on our mineral properties; the timely receipt of
required approvals and permits, including those approvals and
permits required for successful project permitting, construction
and operation of our projects; the price of the minerals we
produce; the costs of operating and exploration expenditures; our
ability to operate in a safe, efficient and effective manner; our
ability to obtain financing as and when required and on reasonable
terms; our ability to continue operating the Marigold mine and the
Seabee Gold Operation; dilution and mining recovery assumptions;
the success of mining, processing, exploration and development
activities; the accuracy of geological, mining and metallurgical
estimates; no significant unanticipated operational or technical
difficulties; maintaining good relations with the communities
surrounding the Marigold mine and the Seabee Gold Operation; no
significant events or changes relating to regulatory,
environmental, health and safety matters; certain tax matters; and
no significant and continuing adverse changes in general economic
conditions or conditions in the financial markets (including
commodity prices, foreign exchange rates and inflation rates). You
are cautioned that the foregoing list is not exhaustive of all
factors and assumptions which may have been used. We cannot assure
you that actual events, performance or results will be consistent
with these forward-looking statements, and management's assumptions
may prove to be incorrect. Our forward-looking statements reflect
current expectations regarding future events and operating
performance and speak only as of the date hereof and we do not
assume any obligation to update forward-looking statements if
circumstances or management's beliefs, expectations or opinions
should change other than as required by applicable law. For the
reasons set forth above, you should not place undue reliance on
forward-looking statements.
Cautionary Note to U.S. Investors
This news release includes Mineral Reserves and Mineral
Resources classification terms that comply with reporting standards
in Canada and the Mineral Reserves
and the Mineral Resources estimates are made in accordance with NI
43-101. NI 43-101 is a rule developed by the Canadian Securities
Administrators that establishes standards for all public disclosure
an issuer makes of scientific and technical information concerning
mineral projects. These standards differ significantly from the
requirements of the SEC set out in SEC Industry Guide 7.
Consequently, Mineral Reserves and Mineral Resources information
included in this news release is not comparable to similar
information that would generally be disclosed by domestic U.S.
reporting companies subject to the reporting and disclosure
requirements of the SEC. Under SEC standards, mineralization may
not be classified as a "reserve" unless the determination has been
made that the mineralization could be economically produced or
extracted at the time the reserve determination is made. In
addition, the SEC's disclosure standards normally do not permit the
inclusion of information concerning "Measured Mineral Resources,"
"Indicated Mineral Resources" or "Inferred Mineral Resources" or
other descriptions of the amount of mineralization in mineral
deposits that do not constitute "reserves" by U.S. standards in
documents filed with the SEC. U.S. investors should understand that
"Inferred Mineral Resources" have a great amount of uncertainty as
to their existence and great uncertainty as to their economic and
legal feasibility. Moreover, the requirements of NI 43-101 for
identification of "reserves" are also not the same as those of the
SEC, and reserves reported by us in compliance with NI 43-101 may
not qualify as "reserves" under SEC standards. Accordingly,
information concerning mineral deposits set forth herein may not be
comparable with information made public by companies that report in
accordance with U.S. standards.
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SOURCE SSR Mining Inc.