(TheNewswire)
Vancouver, BC / TheNewswire / March 1, 2018 - Meadow Bay Gold Corporation (“Meadow Bay Gold” or the “Company”) (TSXV:MAY), (OTCQB:MAYGF), (Frankfurt: 20M, WKN A1C3DN), advises that effective at the open on March 2, 2018, the Company’s common shares will commence trading on the Canadian Securities Exchange and will be delisted from the TSX Venture Exchange.
The Company also advises that it has engaged Gustavson Associates, LLC, of Boulder, Colorado to prepare an in-pit resource estimate for its flagship Atlanta Gold Mine Project in Lincoln County, Nevada.
The purpose of the in-pit resource estimate is to identify that portion of the larger global resource that could be exploited under current market conditions through open-pit mining. In particular, the area immediately to the west of the historic Atlanta Mine shows exceptional promise. Drilling in 2011 discovered gold mineralization hosted in a quartz latite porphyry in the hanging-wall of the Atlanta Shear Zone. The Atlanta Porphyry is both closer to the surface and softer than the historic mineralization in the shear zone.
A secondary purpose of the in-pit resource is to update the previous resource estimate and include the results of more recent drilling.
“Commissioning an in-pit resource represents a fundamental shift in Meadow Bay’s thinking,” states Robert Dinning, Chairman and CEO of Meadow Bay Gold. “Although our previous emphasis was on exploration, we feel that the combination of existing infrastructure and a defined resource provides an opportunity to move in a new direction. While we will continue to conduct exploration in Western Knolls and elsewhere in the Atlanta District, our primary goal is to maximize shareholder value by bringing the Atlanta Project toward a timely production decision.”
In addition to the in-pit resource estimate, the Company is looking at additional metallurgical testing of the porphyry mineralization, preliminary mine and process plant design, and initial OpEx and CapEx estimations. The goal is to integrate these studies into a Preliminary Economic Assessment (PEA) later in the year.
Charles “Bill” Reed, a Qualified Person as defined by National Instrument 43-101 and Director of the Company, has reviewed and approved the contents of this press release.
For further information please contact:
Meadow Bay Gold Corporation www.meadowbaygold.com
Robert Dinning, Chairman & CEO
Charles “Bill” Reed, Director
Tel: 604-641-4450
Matthew Harrington, Launch IR
Tel: 613-882-7467
Forward-looking information
This release contains “forward-looking information” within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking information includes, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as the calculation of a new mineral resource estimate.
Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “planning”, “planned”, “expects” or “looking forward”, “does not expect”, “continues”, “scheduled”, “estimates”, “forecasts”, “intends”, “potential”, “anticipates”, “does not anticipate” or “belief” or describes a “goal” or variation of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Forward-looking information is based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen breakdowns, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking information involves known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold and silver; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
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