Astur Gold Announces Updated Mineral Resource Estimate for Salave
February 06 2014 - 8:00AM
Marketwired
Astur Gold Announces Updated Mineral Resource Estimate for Salave
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 6, 2014) - Astur
Gold Corp. (TSX-VENTURE:AST)(FRANKFURT:CDC) ("Astur Gold" or the
"Company") is pleased to announce an updated resource estimate for
its 100% owned Salave Gold Project in Northern Spain. The resource
estimate has an effective date of January 22, 2014 and was prepared
by Mine Development Associates, Inc. ("MDA") in accordance with
National Instrument 43-101 ("NI 43-101") Standards for Disclosure
of Mineral Properties. Astur Gold is currently completing a
Feasibility Study on the Salave Gold Project.
Table 1: Salave Project Gold Resources |
|
Cut-off |
Measured |
Indicated |
g/t |
Tonnes |
g/t |
oz Au |
Tonnes |
g/t |
oz Au |
2.0 |
514,000 |
5.87 |
97,000 |
6,008,000 |
4.39 |
847,000 |
2.5 |
409,000 |
6.81 |
89,000 |
4,338,000 |
5.21 |
727,000 |
3.0 |
338,000 |
7.65 |
83,000 |
3,257,000 |
6.04 |
632,000 |
5.0 |
191,000 |
10.56 |
65,000 |
1,251,000 |
9.68 |
389,000 |
7.0 |
129,000 |
12.78 |
53,000 |
704,000 |
12.66 |
286,000 |
10.0 |
78,000 |
15.67 |
40,000 |
387,000 |
16.22 |
202,000 |
|
|
|
|
|
|
|
Cut-off |
Measured + Indicated |
Inferred |
g/t |
Tonnes |
g/t |
oz Au |
Tonnes |
g/t |
oz Au |
2.0 |
6,522,000 |
4.51 |
944,000 |
1,078,000 |
3.05 |
106,000 |
2.5 |
4,747,000 |
5.35 |
816,000 |
631,000 |
3.63 |
74,000 |
3.0 |
3,595,000 |
6.19 |
715,000 |
378,000 |
4.24 |
52,000 |
5.0 |
1,442,000 |
9.80 |
454,000 |
69,000 |
6.89 |
15,000 |
7.0 |
833,000 |
12.68 |
339,000 |
22,000 |
9.30 |
7,000 |
10.0 |
465,000 |
16.13 |
242,000 |
6,000 |
12.69 |
2,000 |
Note: Rounding may cause apparent discrepancies |
Mineral Resources that are not reserves do not have demonstrated
economic viability. The quantity and grade of reported inferred
resources in this estimation are conceptual in nature and there has
been insufficient exploration to define these inferred resources as
an indicated or measured resource and it is uncertain if further
exploration will result in upgrading them to an indicated or
measured resource category.
Due to the necessity to maintain a surficial crown pillar in a
potential underground operation, all material from the present
surface to a depth of 40 meters is not included in the Salave
resources. The resource cut-off grade of 2.0 g/t Au was chosen to
capture mineralization that is potentially amenable to underground
mining, sulfide concentration, and gold recovery using off-site
processing. The deposit still remains open to the west for future
expansion potential.
"This is the most extensive study done to date on the Salave
underground resource, incorporating historic and current drilling,
extensive due diligence by independent engineers, high quality
QA/QC program, and looking at an underground only mining scenario,"
stated Cary Pinkowski, Astur Gold's President and CEO. "This is a
positive step forward for Astur Gold, as it provides a solid
foundation on which to complete our Feasibility Study."
Mineral Resource
Parameters and Methods
- Mineral Resources do not have demonstrated economic viability.
Under CIM definitions, mineral resources should have a reasonable
prospect of economic extraction. In order to assess the mineral
resources, an in situ resource cut-off grade of 2 g/t Au was
applied. The resource estimate includes the recently completed
3,031 meters of infill drilling and 51,556 meters of previous
drilling conducted on the property.
- A three-dimensional block model was created for estimating the
gold resources at the Salave deposit from data generated by Rio
Tinto, Gold Fields, Anglo, Oromet, Newmont, Rio Narcea, Lyndex and
Astur Gold, including percussion, RC, and core drill data. This
data, as well as digital topography of the project area, was
provided to MDA by Astur Gold and incorporated into a digital
database in UTM Zone 29 coordinates using the ETRS89 datum.
- Gold mineralization at Salave occurs within the granodiorite
and overlying package of metasedimentary rocks; the gold resources
reported herein are restricted to mineralization hosted within the
granodiorite. The bulk of the modeled gold mineralization is
contained within thick zones of albitized and sericitized
granodiorite that generally dip 10 to 20° to the west-southwest,
more-or-less sub-parallel to the metasediment/granodiorite
contact.
- The gold resources at the Salave deposit were modeled and
estimated by: 1) determining statistical and geological criteria to
aid in the modeling of gold mineral domains; 2) interpreting gold
mineral-domain polygons on a set of 26 northwest-looking cross
sections (292.7°) spaced at 20-meter intervals; 3) rectifying the
mineral-domain interpretations on northeast-looking long sections
spaced at four-meter intervals; 4) analyzing the modeled
mineralization geostatistically to aid in the establishment of
estimation and classification parameters; 5) interpolating grades
into a three-dimensional block model, using the gold mineral
domains to control estimation; and 6) undertaking various checks
and re-interpolation runs until optimal results were
generated.
- Due to potential penalties associated with the processing of
arsenic-rich gold concentrates, arsenic was modeled in addition to
gold. The arsenic was modeled independently of gold, but in an
identical manner.
MDA completed an initial draft of the Salave resource model in
mid-December 2013. Subsequent to this, Astur Gold received final
assays for a sequence of 10 holes drilled in late 2013, which were
primarily drilled internal to the deposit as modeled in 2013. These
holes were added to the resource database, and the resource model
was then updated in January 2014 to include the new Astur Gold core
data. The new holes broadly confirm the modeling of the Salave
resources. There were several instances where the new data led to
small interpretational changes as to the correlation of one
intercept of a shallowly dipping zone with that from an adjacent
hole, but the most common changes in these zones were in the
interpreted widths of mineralized zones. Of particular interest is
one hole that was drilled directly down the axis of the main
sub-vertical high-grade domain. The results of this hole were
remarkably consistent with the 2013 interpretations.
Astur Gold received a positive environmental impact assessment
for an underground mine from the Commission for Environmental
Affairs of the Principality of Asturias in November 2012 and
recently submitted an Amended Environmental Impact Study on
December 18, 2013 for plant, tailings, and water discharge
approvals for a simplified flotation plant with no cyanide or
autoclave. It is expected that tailings will be managed using a
state of the art dry stack tailings system. The public consultation
period for the Amended Environmental Impact Study ends on February
6, 2014.
The resource estimation for the Salave Gold Project was
completed by Mine Development Associates, Inc. under the
supervision of Mr. Neil Prenn, who is a Qualified Person as
stipulated by National Instrument 43-101 and is independent of
Astur Gold. Mr. Prenn has read and approved the contents of this
press release as it pertains to the disclosed mineral resource
estimate. A technical report including the updated underground
resource estimate will be filed on the SEDAR website at
www.sedar.com within 45 days.
ABOUT ASTUR GOLD
Astur Gold is developing its 100% owned Salave Gold Project in
Asturias, northern Spain. Salave is one of the largest undeveloped
gold deposits in Western Europe. The Company received approval for
an underground mine from the Commission for Environmental Affairs
of the Principality of Asturias in November 2012. Astur Gold is
conducting a Feasibility Study on Salave and intends to commence
construction upon its completion and receipt of process plant,
tailings, and water discharge approvals. The Company is building a
partnership with the people of Asturias to generate sustainable
economic benefits for the region while balancing the needs of
environmental protection and social community development.
ON BEHALF OF THE BOARD
Cary Pinkowski, Chief Executive Officer, President and
Director
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. Mineral resources that are not mineral
reserves do not have demonstrated economic viability. This document
contains certain forward looking statements which involve known and
unknown risks, delays and uncertainties not under the Company's
control which may cause actual results, performance or achievements
of the Company to be materially different from the results,
performance or expectation implied by these forward looking
statements.
Astur Gold Corp.Vadim
Dubchak604-694-1600info@asturgold.comwww.asturgold.com
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