Vancouver – Gateway Gold (GTQ-T, GWYGF-O) has delivered an initial resource estimate on its Big Springs project located in north-central Nevada’s Jerritt Canyon Trend.
Using a 3.4 gram gold per tonne cut-off grade, an inferred resource estimate of 2.7 million tonnes grading 6.8 grams gold was reviewed, equating to 592,000 contained oz.
If the cut-off grade is halved to 1.7 grams gold, the inferred resource figure comes in at 7.6 million tonnes of 3.9 grams gold, or 944,000 contained oz.
The resource estimate, conducted by Colorado-based Gustavson Associates, incorporates results from extensive drilling over two years of Gateway’s work, in addition to a historic database purchased from former operator AngloGold Ashanti (AU-N). The resource includes the North and South Sammy areas in addition to the 601, 701, Beadles and Crusher zones.
Past mining from 1987 through 1993 at Big Springs produced a total of 386,000 oz. gold from several open pits.
Gold at Big Springs occurs predominantly as Carlin-type sediment-hosted mineralization. Steeply dipping fault structures host the bulk of mineralization, exhibiting thickening and enrichment in association with secondary cross-faults.
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