Enforcer Gold and SOQUEM Announce Amended & Restated Mineral Resource Estimate for the Roger Project Containing 333,000 Gold Eq Ounces Indicated and 202,000 Gold Eq Ounces Inferred
TSX-V: VEIN | FSE: N071
TORONTO, Sept. 18, 2018 /CNW/ - Enforcer Gold Corp ("Enforcer" or the "Company") (TSX-V: VEIN; FSE: N071) along with SOQUEM today announce the results of an amended and restated mineral resource estimate on the Mop-II gold-copper deposit at the Company's Roger project. Enforcer is earning a 50% interest in the Roger project from project operator, SOQUEM.
Enforcer and SOQUEM were informed by Qualified Person, Christian D'Amours of GéoPointCom, that an error had been discovered within the drill hole database utilized in the mineral resource estimate reported on August 28, 2018. The error affected the data for several drill holes at the western ends of the North and Main zones and lead to a misestimating of the resource and induced an oversized conceptual pit shell. The effect and scale of the error on the resource could not be determined without a complete re-estimation; hence, Enforcer and SOQUEM requested GéoPointCom to immediately correct the database and recalculate the mineral resource.
The revised mineral resource estimate prepared by GéoPointCom using a 0.45 g/t gold equivalent ("AuEq") cut off is 333,000 AuEq oz in the Indicated category and 202,000 AuEq oz in the Inferred category (Table 1). The impact of the amendment is a 12% decrease in the total Indicated resources and a 45% decrease in the total Inferred resources announced on August 28, 2018. Over 60% of the amended global resource is in the higher confidence Indicated category.
Enforcer Gold President and CEO, Steve Roebuck, comments:
"This is a very unfortunate situation but one that is not of Enforcer Gold's making. The database error that lead to the amendment and restatement of the mineral resource is highly regrettable, but fortunately, the reduction to the Inferred resources is largely confined to the North Zone where drilling coverage is limited. There is little impact on the Mop-II Main Zone and the bulk of the Indicated resources. This restatement has no impact on Enforcer and SOQUEM's commitment to advancing the Roger project and building the mineral resource on the Mop-II deposit. The Phase 2 drilling campaign is set to commence shortly and will focus on increasing and upgrading the current resource base."
SOQUEM President, Olivier Grondin, comments:
"It is an unfortunate situation that is out of SOQUEM's control, since the database that was transmitted by SOQUEM to GéoPointCom was in good standing. All parties involved are working together to identify the reason for the error. The matter is taken very seriously."
Table 1. Pit-Constrained Mineral Resource Estimate on the Mop-II Gold-Copper Deposit
Category | AuEq Cut-off (g/t) | Tonnes | AuEq (g/t) | Contained AuEq (oz) | Au (g/t) | Contained Au (oz) |
Indicated | 0.45 | 10,900,000 | 0.95 | 333, 000 | 0.85 | 297,000 |
Inferred | 0.45 | 6,569,000 | 0.96 | 202, 000 | 0.75 | 159,000 |
Notes to Table 1: | |
1. | The mineral resource estimate was prepared with reference to the 2014 Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards and the 2003 CIM Best Practice Guidelines. |
2. | The effective date of the mineral resource estimate is July 4, 2018. |
3. | The Qualified Person for the estimate is Christian D'Amours, PGeo, of GéoPointCom. |
4. | Gold Equivalent ("AuEq") cut-off grade is based on 3-year average metal prices (to July 2018) of US$1,240/oz gold, US$16.50/oz silver and US$3.00/lb copper, USD/CAD exchange rate of 1.3129 using an open pit constrained model. |
5. | The resource is supported by statistical analysis with good reproducibility of the values and geostatistical validation of the coefficient of variation and probability curves. High-grade values were not capped but their numbers and area of influence was limited. |
6. | A minimum thickness of 10m was used for all sub-vertical zones and assays were composited to 1.0m true width. |
7. | A bulk density of 2.70 g/cm3 was used for the current estimate. |
8. | Mineral resources are reported as in-situ without dilution and material loss. |
9. | Rounding may result in apparent differences between tonnes, grade and contained metal content. |
10. | Mineral resources that are not mineral reserves do not have demonstrated economic viability. |
Block model plans and sections are available in the Roger Map Gallery.
Table 2. Pit-Constrained Indicated Mineral Resource Sensitivity by Cut-Off Grades
AuEq Cut-Off (g/t) | Tonnes (kt) | Au (g/t) | Ag (g/t) | Cu (%) | Au (oz) | Ag (oz) | Cu (lb) | AuEq (oz) |
0.25 | 22,047 | 0.55 | 0.73 | 0.05 | 392,000 | 517,000 | 23,065,000 | 454,000 |
0.3 | 18,130 | 0.63 | 0.75 | 0.05 | 365,000 | 437,000 | 19,807,000 | 419,000 |
0.35 | 15,208 | 0.70 | 0.77 | 0.05 | 341,000 | 376,000 | 17,448,000 | 388,000 |
0.4 | 12,758 | 0.77 | 0.79 | 0.05 | 317,000 | 325,000 | 15,171,000 | 358,000 |
0.45 | 10,900 | 0.85 | 0.80 | 0.06 | 297,000 | 281,000 | 13,286,000 | 333,000 |
0.5 | 9,345 | 0.92 | 0.81 | 0.06 | 277,000 | 245,000 | 11,720,000 | 309,000 |
0.6 | 6,956 | 1.08 | 0.85 | 0.06 | 242,000 | 189,000 | 9,099,000 | 267,000 |
0.7 | 5,363 | 1.24 | 0.87 | 0.06 | 214,000 | 150,000 | 7,254,000 | 234,000 |
Table 3. Pit-Constrained Inferred Mineral Resource Sensitivity by Cut-Off Grades
AuEq Cut-Off (g/t) | Tonnes (kt) | Au (g/t) | Ag (g/t) | Cu (%) | Au (oz) | Ag (oz) | Cu (lb) | AuEq (oz) |
0.25 | 14,917 | 0.48 | 1.03 | 0.08 | 230,000 | 492,000 | 25,608,000 | 298,000 |
0.3 | 12,757 | 0.53 | 1.05 | 0.08 | 216,000 | 429,000 | 23,512,000 | 278,000 |
0.35 | 10,751 | 0.58 | 1.05 | 0.09 | 200,000 | 361,000 | 21,500,000 | 256,000 |
0.4 | 8,196 | 0.67 | 1.08 | 0.11 | 175,000 | 284,000 | 18,949,000 | 224,000 |
0.45 | 6,569 | 0.75 | 1.18 | 0.11 | 159,000 | 250,000 | 16,551,000 | 202,000 |
0.5 | 5,501 | 0.83 | 1.17 | 0.12 | 147,000 | 207,000 | 14,851,000 | 185,000 |
0.6 | 3,723 | 1.02 | 1.10 | 0.15 | 122,000 | 131,000 | 12,250,000 | 153,000 |
0.7 | 2,629 | 1.24 | 1.13 | 0.17 | 105,000 | 95,000 | 10,107,000 | 130,000 |
Notes to Tables 2 and 3: | |
1. | Gold Equivalent ("AuEq") cut-off grade is based on 3-year average metal prices (to July 2018) of US$1,240/oz gold, US$16.50/oz silver and US$3.00/lb copper, USD/CAD exchange rate of 1.3129 using an open pit constrained model. |
Gold mineralization at the Mop-II deposit correlates with broad alteration zones of sericitization and silicification that are largely contained within a 2.2 km long by 0.4 km wide quartz-feldspar porphyry intrusion. The mineralization is homogenous, generally low grade and occurs over broad intervals. In addition to the 58,000 m of diamond drilling now completed on the Roger property, underground exploration undertaken in 1988 included 1,177 m of development and over 1,000 m of chip sampling. In 2006, a NI 43-101 mineral resource estimate on the Mop-II deposit outlined 3.24 Mt of Inferred Resources at an average grade of 1.61 g/t Au and 0.04% Cu for a total 167,200 ounces of gold (Enforcer press release dated March 5, 2018). Enforcer considers the 2006 estimate as a historical resource estimate that has relevance to the project; however, a qualified person for the Company has not done sufficient work to classify the historical estimate as a current mineral resource.
The 2018 mineral resource estimate was prepared by GéoPointCom of Val-d'Or, Quebec utilizing GeoticMine software and geostatistical analysis by Isatis software. The estimate was calculated using ordinary kriging (OK) methodology and the block model was constructed using block dimensions of 10 x 10 x 10 meters. The estimate incorporates information from 260 surface diamond drill holes and 23 underground diamond drill holes for a total of 38,554 m of split/sawn and assayed core. The wireframes solids were created using a 3D Delaunay triangulation process instead of lines and tie lines projected on section. A total of 13 sub-vertical wire frames were constructed considering a minimum true thickness of 10 m and a minimum grade of 0.35 g/t Au equivalent. This package of zones lies in a lower-grade envelope of 1,880m x 1,110m x 460m dimensions. Samples were composited inside the wire frames into 1 m true width composites. No capping was used at this step. During the interpolation process, composite having a gold grade higher than 30 g/t was limiting to influence only the cell located 15 m around them. Passed this distance, their grade was limited to 30 g/t. A uniform density of 2.7 g/cm3 was used. The resources categories were defined based on composite proximity using two consecutive search ellipsoids passes. The cut-off grade calculation is based on the following parameters:
Au price: US$1,240/oz gold
Ag price: US$16.50/oz silver
Cu price: US$3.00/lb copper
USD/CAD exchange rate: 1.3129
Mining cost: US$2.5/t
Mill recovery: 95%
Processing cost: US$20/t
A NI 43-101 technical report to support the disclosure of the mineral resource estimate is being prepared by Consortium Geologica Groupe-Conseil Inc. of Val-D'Or, Québec and will be filed on SEDAR (www.sedar.com) by October 12, 2018.
Qualified Persons
Enforcer's VP Exploration, Antoine Fournier, PGeo, and Christian D'Amours, PGeo, of GéoPointCom, are both Qualified Persons as defined by National Instrument 43-101 and have reviewed and approved the content of this news release.
QAQC
The 2018 Phase 1 drilling program was managed by project operator, SOQUEM, utilizing standard industry procedures and protocols and following a formal quality assurance and quality control (QAQC) program. Further details of the drilling QAQC program are provided in the Company's June 20, 2018 press release. As project operator, SOQUEM maintains the entire drilling database for the Roger project. Enforcer employs its own QAQC protocol that includes reviewing and verifying the accuracy of the information it receives from SOQUEM. Details of Enforcer's QAQC program is available on the Enforcer website at: Roger QAQC.
About SOQUEM
SOQUEM Inc., a subsidiary of Ressources Québec, is a leading player in mineral exploration with its mission to explore, discover and develop mining properties in Quebec. SOQUEM has participated in more than 350 exploration projects and contributed to major discoveries of gold, diamonds, lithium and other mineral commodities in Quebec.
About Enforcer Gold Corp
Enforcer Gold Corp is a Canadian-based mineral exploration company and is earning a 50% interest in the advanced-stage Roger project from SOQUEM. Roger hosts the Mop-II gold-copper deposit located 5 km from the historic mining center of Chibougamau, Quebec. Enforcer also holds a 100% interest in the Waswanipi gold project located 125 km west of Chibougamau. Both projects are situated within the prolific Abitibi greenstone belt, which has produced over 180 M oz. of gold and over 450 M tonnes of copper-zinc ore since the early 1900s.
Neither the 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 news release.
This news release contains "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company's plans with respect to the exploration of its Roger project, the exploration potential and analogous deposit potential of the Roger project and the timing of the Company's exploration programs. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, the results of exploration activities; the ability of the Company to complete further exploration activities; the ability of the Company to complete transactions on terms announced; timing and availability of external financing on acceptable terms and those risk factors outlined in the Company's Management Discussion and Analysis as filed on SEDAR. Enforcer Gold does not undertake to update any forward-looking information except in accordance with applicable securities laws.
SOURCE Enforcer Gold
View original content: http://www.newswire.ca/en/releases/archive/September2018/18/c4348.html