Newcore Gold Ltd. ("Newcore" or the "Company")
(TSX-V: NCAU, OTCQX: NCAUF) is pleased to announce additional drill
results from the 90,000 metre drill program underway at the
Company’s 100% owned Enchi Gold Project ("Enchi" or the "Project")
in Ghana. Reverse Circulation ("RC") drilling on the southern end
of the Sewum Gold Deposit ("Sewum") at Enchi has intersected
shallow high-grade oxide gold mineralization grading 1.98 grams per
tonne gold ("g/t Au") over 25.0 metres ("m") from 3 m, as well as
high-grade results in deeper sulphide mineralization including 2.14
g/t Au over 18.0 m from 123 m. Newcore’s ongoing drill program also
includes testing previously drilled targets on the property.
Diamond ("DD") drilling at the Eradi Gold Target ("Eradi") at Enchi
has intersected wide gold mineralization grading 0.89 g/t Au over
47.8 m from 41.2 m, including 6.44 g/t Au over 2.5 m from 41.2 m
and 2.14 g/t Au over 5.8 m from 54.2 m.
Highlights from Drilling at Sewum and
Eradi
- RC
drilling at the southern end of the Sewum Gold Deposit (also
referred to as Sewum Extension) intersected near surface oxidized
gold mineralization:
- Hole SWRC164
encountered a gold mineralized structure near surface grading 1.98
g/t Au over 25.0 m from 3 m, and a second zone of 0.58 g/t Au over
22.0 m from 48 m.
- Hole SWRC152,
drilled on a sub-parallel structure, intersected mineralization
near surface of 5.84 g/t Au over 6.0 m from 2 m, including 26.82
g/t Au over 1.0 m from 2 m.
-
Additional RC drilling at Sewum Extension extended the gold
mineralization to depth, into the upper portion of the sulphide
zone, with results including:
- Hole SWRC160
intersected 2.14 g/t Au over 18.0 m from 123 m, including 3.01 g/t
Au over 4.0 m from 124 m and 2.87 g/t Au over 7.0 m from 129
m.
- Hole SWRC165
intersected 1.31 g/t Au over 18 m from 73 m, including 8.28 g/t Au
over 2.0 m from 83 m.
- Hole SWRC144
intersected 1.72 g/t Au over 13 m from 81 m.
- Diamond
drilling at Eradi intersected multiple gold mineralized zones,
including a wide zone with high-grade core structures:
- Hole ERDD020
intersected 0.89 g/t Au over 47.8 m from 41.2 m, including 6.44 g/t
Au over 2.5 m from 41.2 m and 2.14 g/t Au over 5.8 m from 54.2
m.
- Eradi is a
previously drilled target at Enchi with no defined Mineral Resource
Estimate. The zone has been tested at wide spacings over a strike
length of 1.6 kilometres and remains open along strike and to
depth.
Luke Alexander, President and CEO of Newcore
stated, "These results include drilling completed on the southern
end of the Sewum Gold Deposit which has extended the gold
mineralization up and down dip, encountering high-grade gold in
both near-surface oxides as well as in the deeper sulphides. We
also completed first pass drilling on a parallel structure at
Sewum, situated outside of the current pit constrained mineral
resource, which encountered high-grade mineralization near-surface.
In addition to testing the potential for resource growth at our
existing deposit areas, the ongoing 90,000 metre drill program at
Enchi is also focused on testing previously drilled areas on the
property. Drilling at the Eradi target, which is situated on the
northern end of the property, intersected widespread gold
mineralization over more than 1.1 kilometres of strike length. We
continue to encounter high-grade gold results across our Project in
Ghana, highlighting the resource growth potential at Enchi which is
situated on a prolific gold belt that hosts numerous
multi-million-ounce gold mines."
This news release reports results for 42 holes
totalling 4,890.5 m, including 28 RC holes totalling 2,701 m
(SWRC143 to SWRC170) targeting the Sewum Gold Deposit (Sewum
Extension and a parallel related structure) and 14 DD holes
totalling 2,189.5 m (ERDD011 to ERDD023) targeting the Eradi Gold
Target. 39 of the 42 holes intersected gold mineralization.
Select assay results from the 42 holes of the
drill program reported in this release are below:
Table 1 - Enchi Gold Project Drill
Highlights
Hole ID |
Zone/Deposit |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
SWRC164 |
Sewum Ext. |
3.0 |
28.0 |
25.0 |
1.98 |
and |
|
48.0 |
70.0 |
22.0 |
0.58 |
SWRC160 |
Sewum Ext. |
123.0 |
141.0 |
18.0 |
2.14 |
including |
|
124.0 |
128.0 |
4.0 |
3.01 |
and
incl. |
|
129.0 |
136.0 |
7.0 |
2.87 |
SWRC152 |
Sewum Ext. 2 |
2.0 |
8.0 |
6.0 |
5.84 |
including |
|
2.0 |
3.0 |
1.0 |
26.82 |
SWRC165 |
Sewum Ext. |
73.0 |
91.0 |
18.0 |
1.31 |
including |
|
83.0 |
85.0 |
2.0 |
8.28 |
SWRC144 |
Sewum Ext. |
81.0 |
94.0 |
13.0 |
1.72 |
SWRC143 |
Sewum Ext. |
5.0 |
19.0 |
14.0 |
1.49 |
SWRC151 |
Sewum Ext. 2 |
29.0 |
39.0 |
10.0 |
1.10 |
and |
|
72.0 |
92.0 |
20.0 |
0.67 |
including |
|
79.0 |
84.0 |
5.0 |
1.23 |
ERDD020 |
Eradi |
41.2 |
89.0 |
47.8 |
0.89 |
including |
|
41.2 |
43.7 |
2.5 |
6.44 |
and
incl. |
|
54.2 |
60.0 |
5.8 |
2.14 |
ERDD015 |
Eradi |
9.7 |
14.3 |
4.6 |
0.87 |
and |
|
65.8 |
72.9 |
7.1 |
0.61 |
and |
|
105.6 |
107.8 |
2.2 |
0.93 |
Notes: |
|
1. |
See detailed table for complete results |
|
2. |
Intervals reported are hole
lengths with true width estimated to be 75 - 85% |
|
3. |
Length-weighted averages from
uncut assays |
Plan maps showing the drill hole locations can
be viewed
at:https://newcoregold.com/site/assets/files/5754/2022_02-ncau-nr-enchi-plan-maps-l.pdf
Cross sections showing drill results and
highlights for holes SWRC164-165-166, SWRC150-151-152 and ERDD020
can be viewed at:
https://newcoregold.com/site/assets/files/5754/2022_02-ncau-crosssections-l.pdf
A complete list of the 2020 - 2021 drill results
released to date, including hole details, can be viewed
at:https://newcoregold.com/site/assets/files/5754/2022_02-ncau-enchi-2020-2021-drill-results-l.pdf
For the total planned 90,000 metre drill
program, assay results have now been received and released for 438
holes representing 73,207 metres.
Drilling at Sewum Extension
Sewum Extension refers to the southern portion
of the Sewum Gold Deposit. Recent drilling targeted up-dip and down
dip extensions to the resource area along with a number of holes
directed at initial testing of a sub-parallel structure located
approximately 200 metres east of the main structure.
Additional RC drilling on the principal
structure, which hosts a portion of the existing pit-constrained
resource, tested 500 metres of strike length (18 holes drilled -
SWRC143 to SWRC148, SWRC156 to SWRC166, and SWRC169). Hole SWRC164
intersected a shallow gold mineralized structure within the
oxidized portion of the deposit grading 1.98 g/t Au over 25.0
m from 3 m, and a second zone of 0.58 g/t Au over 22.0 m from 48 m
in the sulphides (hole ended in mineralization). Hole SWRC165,
drilled on the same section as SWRC164, intersected mineralization
down dip returning 1.31 g/t Au over 18 m from 73 m, including 8.28
g/t Au over 2 m from 83 m.
Hole SWRC160, collared 250 metres north of
SWRC164, tested the down dip extension of the Sewum structure and
intersected 2.14 g/t Au over 18.0 m from 123 m, including 3.01 g/t
Au over 4.0 m from 124 m and 2.87 g/t Au over 7.0 m from 129 m
(sulphide zone). Additional drilling included hole SWRC144 which
intersected 1.72 g/t Au over 13 m from 81 m (sulphide zone) and
SWRC143 which intersected 1.49 g/t Au over 14 m from 5 m (oxide
zone).
Strong results were also encountered in first
pass drilling that was completed on an undrilled target at Sewum,
sub-parallel structures defined by gold-in-soil and trench
anomalies located approximately 200 metres east of the main Sewum
structure (10 holes drilled - SWRC149 to SWRC155, SWRC167, SWRC168,
and SWRC170). Hole SWRC152 intersected 5.84 g/t Au over 6.0 m from
2 m, including 26.82 g/t Au over 1.0 m from 2 m (oxide zone). Hole
SWRC151, drilled on the same section as SWRC152, tested the down
dip extension and intersected two gold mineralized structures
grading 1.10 g/t Au over 10.0 m from 29 m in the oxides and 0.67
g/t Au over 20.0 m from 72 m including 1.23 g/t Au over 5.0 m from
79 m in the sulphides. Hole SWRC168, drilled on the adjacent
section south of SWRC151/152 located 200 metres south, intersected
a series of gold mineralized zones including 0.48 g/t Au over 4.0 m
from 4 m in the oxides, 0.85 g/t Au over 12.0 m from 35 m in the
oxide-sulphide transition, and two zones in the sulphides grading
0.70 g/t Au over 13.0 m from 72 m and 0.49 g/t Au over 9.0 m from
91 m. Hole SWRC155, drilled on the adjacent section north of
SWRC151/152 located 200 metres north, intersected a series of
gold mineralized zones with 0.51 g/t Au over 1.0 m from 49 m, 0.41
g/t Au over 9.0 m from 111 m, and 0.43 g/t Au over 2.0 m from 124 m
(sulphide zone). These new sub-parallel structures have now been
tested for over 400 metres of strike length and are open to both
the north and south, representing a new area for potential resource
growth at Sewum.
Drilling at Eradi
Diamond drilling was completed on the Eradi Gold
Target following up on positive drilling and trenching completed
prior to 2020. Eradi is an earlier stage target at Enchi with no
defined mineral resource. 14 DD holes totalling 2,189.5 m (ERDD011
to ERDD023) tested approximately 1.2 kilometres of strike length,
with all holes intersecting gold mineralization. Hole ERDD020,
completed on the northern portion of the zone, intersected multiple
gold mineralized zones within the oxides including a wide zone with
high-grade core structures which returned 0.89 g/t Au over 47.8 m
from 41.2 m, including 6.44 g/t Au over 2.5 m from 41.2 m and 2.14
g/t Au over 5.8 m from 54.2 m. Hole ERDD020 also encountered
additional near surface structures including 0.31 g/t Au over 1.0 m
from 10 m and 0.43 g/t Au over 4.5 m from 15.2 m.
Hole ERDD015, collared one kilometre south of
ERDD020 on the southern portion of the zone, intersected a series
of gold mineralized structures including 0.87 g/t Au over 4.6 m
from 9.7 m and 0.61 g/t Au over 7.1 m from 65.8 m, and 0.93 g/t Au
over 2.2 m from 105.6 m in the oxides.
Work completed at Eradi prior to 2020 included
trenching and drilling, with prior trenching returning 1.67 g/t Au
over 36.9 m and 10 wide spaced shallow drill holes intersecting
gold mineralized intervals of 0.60 g/t Au over 27.0 m from 25 m
including 1.30 g/t Au over 10.0 m from 42 m, 1.15 g/t Au over 10.0
m from 58 m, 0.60 g/t Au over 17.0 m from 5 m, and 1.02 g/t Au over
10.0 m from 22 m.
Enchi Gold Project Mineral Resource
Estimate
The Enchi Gold Project hosts a pit constrained
Inferred Mineral Resource of 70.4 million tonnes grading 0.62 g/t
Au containing 1.41 million ounces gold (see Newcore news release
dated June 8, 2021). Mineral resource estimation practices are in
accordance with CIM Estimation of Mineral Resource and Mineral
Reserve Best Practice Guidelines (November 29, 2019) and follow CIM
Definition Standards for Mineral Resources and Mineral Reserves
(May 10, 2014), that are incorporated by reference into National
Instrument 43-101 ("NI 43-101"). The Mineral Resource Estimate was
prepared by independent qualified person Todd McCracken, P. Geo. of
BBA E&C Inc. The technical report, titled "Preliminary Economic
Assessment for the Enchi Gold Project, Enchi, Ghana" has an
effective date of June 8, 2021, and is available under the
Company’s profile on SEDAR at www.sedar.com.
2020 - 2021 Enchi Drilling
Program
A 90,000 metre discovery and resource expansion
drilling program is underway at Enchi (anticipated completion in Q2
2022). The program includes both RC and diamond drilling and
includes the first deeper drilling on the Project. This drill
program includes testing extensions of the existing resource areas
while also testing a number of high priority exploration targets
outside of the Inferred Mineral Resource. Drilling is focused on
step out extensions and exploration drilling at the Sewum, Boin,
Nyam and Kwakyekrom Deposits. Additional drilling is also focused
on previously drilled zones that are outside of the resource area
(Kojina Hill and Eradi), along with first pass drilling to test a
series of kilometre-scale gold-in-soil anomalous zones with no
prior drilling (Nkwanta, Sewum South and other anomalies). All
zones represent high priority targets based on geological,
geochemical and geophysical surface work and previous trenching and
drilling.
Sewum Gold Zone
The Sewum Gold Deposit is the largest of the
four deposits which comprise the pit constrained Inferred Mineral
Resource Estimate at Enchi, with Sewum hosting approximately 51% of
the currently defined resource (41.0 million tonnes grading 0.55
g/t Au containing 725,200 ounces). Sewum is located 15 kilometres
south of the town of Enchi, with nearby roads and power and further
access provided by a series of drill roads. Sewum is outlined on
surface by a six-kilometre-long and one-to-two-kilometre-wide gold
in soil anomaly. An airborne geophysical anomaly coincident with
the Sewum Deposit defines a series of sub parallel and intersecting
structures. Approximately 50% of the gold-in-soil anomaly is
untested by drilling. As part of the current drill program results
have been received and released for a total of 85 holes
representing 15,420 metres at Sewum.
Eradi Gold Target
The Eradi Gold Zone is the northernmost drill
tested target at Enchi, with no currently defined Mineral Resource
Estimate. Eradi is located 25 kilometres northeast of the town of
Enchi, with nearby roads and power and further access provided by a
series of drill roads. Eradi is outlined on surface by a
four-kilometre-long and one-kilometre-wide gold in soil anomaly. An
airborne geophysical anomaly coincident with the Eradi Gold Target
defines a series of sub parallel and intersecting structures.
Approximately 60% of the gold-in-soil anomaly is untested by
drilling. As part of the current drill program a total of 14 holes
totalling 2,189.5 metres have been completed at Eradi.
Drill Hole Locations
Table 2 - Enchi Gold Project Drill Hole
Location Details
Hole ID |
UTM East |
UTM North |
Elevation |
Azimuth ° |
Dip ° |
Length (m) |
SWRC143 |
520505 |
626275 |
122 |
120 |
-55 |
50 |
SWRC144 |
520501 |
626343 |
118 |
120 |
-60 |
120 |
SWRC145 |
520569 |
626355 |
113 |
120 |
-55 |
70 |
SWRC146 |
520550 |
626367 |
120 |
120 |
-55 |
100 |
SWRC147 |
520615 |
626387 |
108 |
120 |
-55 |
40 |
SWRC148 |
520576 |
626411 |
105 |
120 |
-65 |
110 |
SWRC149 |
520996 |
626322 |
98 |
120 |
-50 |
100 |
SWRC150 |
520893 |
626162 |
97 |
120 |
-50 |
102 |
SWRC151 |
520775 |
626215 |
130 |
120 |
-50 |
102 |
SWRC152 |
520831 |
626189 |
189 |
120 |
-50 |
100 |
SWRC153 |
520845 |
626392 |
110 |
120 |
-50 |
108 |
SWRC154 |
520779 |
626420 |
117 |
120 |
-50 |
114 |
SWRC155 |
520915 |
626351 |
94 |
120 |
-50 |
130 |
SWRC156 |
520654 |
626422 |
98 |
120 |
-55 |
50 |
SWRC157 |
520589 |
626463 |
89 |
120 |
-55 |
120 |
SWRC158 |
520623 |
626437 |
87 |
120 |
-55 |
100 |
SWRC159 |
520522 |
626383 |
113 |
120 |
-55 |
140 |
SWRC160 |
520491 |
626397 |
117 |
120 |
-55 |
160 |
SWRC161 |
520491 |
626397 |
117 |
120 |
-60 |
40 |
SWRC162 |
520393 |
626096 |
96 |
120 |
-60 |
50 |
SWRC163 |
520381 |
626103 |
97 |
120 |
-60 |
70 |
SWRC164 |
520402 |
626147 |
92 |
120 |
-60 |
70 |
SWRC165 |
520374 |
626160 |
92 |
120 |
-60 |
100 |
SWRC166 |
520355 |
626174 |
93 |
120 |
-55 |
140 |
SWRC167 |
520717 |
626011 |
95 |
120 |
-50 |
100 |
SWRC168 |
520655 |
626046 |
101 |
120 |
-50 |
100 |
SWRC169 |
520441 |
626176 |
107 |
120 |
-55 |
85 |
SWRC170 |
520633 |
626060 |
101 |
120 |
-55 |
130 |
ERDD011 |
539579 |
650489 |
165 |
130 |
-60 |
179.2 |
ERDD012 |
539818 |
650767 |
211 |
130 |
-60 |
79.7 |
ERDD012A |
539823 |
650758 |
212 |
130 |
-60 |
260.2 |
ERDD013 |
539765 |
650539 |
161 |
130 |
-60 |
81.1 |
ERDD014 |
539860 |
650741 |
216 |
130 |
-60 |
182.2 |
ERDD015 |
539729 |
650573 |
163 |
130 |
-60 |
158.2 |
ERDD016 |
539878 |
650616 |
197 |
130 |
-60 |
102.2 |
ERDD017 |
539848 |
650644 |
203 |
130 |
-60 |
102.0 |
ERDD018 |
540021 |
650784 |
193 |
130 |
-60 |
152.2 |
ERDD019 |
540284 |
651078 |
127 |
130 |
-60 |
173.1 |
ERDD020 |
540466 |
651192 |
178 |
130 |
-60 |
158.2 |
ERDD021 |
540551 |
651237 |
186 |
130 |
-60 |
224.0 |
ERDD022 |
540356 |
651175 |
159 |
130 |
-60 |
185.2 |
ERDD023 |
540304 |
651188 |
113 |
130 |
-60 |
152.0 |
COVID-19 Protocols
Newcore’s first priority is the health and
safety of all employees, contractors, and local communities. The
Company is following all Ghana guidelines and requirements related
to COVID-19. The Company has implemented COVID-19 protocols for its
ongoing drill program consisting of the mandatory use of personal
protective equipment (including facemasks for all employees),
maintaining social distancing, frequent hand washing, and daily
temperature checks at the start of each shift.
Newcore Gold Best Practice
Newcore is committed to best practice standards
for all exploration, sampling and drilling activities. Drilling was
completed by an independent drilling firm using industry standard
RC and Diamond Drill equipment. Analytical quality assurance and
quality control procedures include the systematic insertion of
blanks, standards and duplicates into the sample strings. Samples
are placed in sealed bags and shipped directly to Intertek Labs
located in Tarkwa, Ghana for 50 gram gold fire assay.
Qualified Person
Mr. Gregory Smith, P. Geo, Vice President of
Exploration of Newcore, is a Qualified Person as defined by NI
43-101, and has reviewed and approved the technical data and
information contained in this news release. Mr. Smith has verified
the technical and scientific data disclosed herein and has
conducted appropriate verification on the underlying data including
confirmation of the drillhole data files against the original
drillhole logs and assay certificates.
About Newcore Gold Ltd.
Newcore Gold is advancing its Enchi Gold Project
located in Ghana, Africa’s largest gold producer (1). The Project
currently hosts an Inferred Mineral Resource of 1.41 million ounces
of gold at 0.62 g/t (2). Newcore Gold offers investors a unique
combination of top-tier leadership, who are aligned with
shareholders through their 27% equity ownership, and prime district
scale exploration opportunities. Enchi’s 216 km2 land package
covers 40 kilometres of Ghana’s prolific Bibiani Shear Zone, a gold
belt which hosts several 5 million-ounce gold deposits, including
Kinross’ Chirano mine 50 kilometers to the north. Newcore’s vision
is to build a responsive, creative and powerful gold enterprise
that maximizes returns for shareholders.
On Behalf of the Board of Directors of
Newcore Gold Ltd.
Luke AlexanderPresident, CEO & Director
For further information, please
contact:
Mal Karwowska | Vice President, Corporate
Development and Investor Relations+1 604 484
4399info@newcoregold.com www.newcoregold.com
(1) Source: Production volumes for 2020 as sourced from the World
Gold Council(2) Notes for Inferred Mineral Resource Estimate: |
|
1. |
CIM definition standards were followed for the resource
estimate. |
|
2. |
The 2021 resource models used ordinary kriging (OK) grade
estimation within a three-dimensional block model with mineralized
zones defined by wireframed solids and constrained by pits shell
for Sewum, Boin and Nyam. Kwakyekrom used Inverse Distance squared
(ID2). |
|
3. |
A base cut-off grade of 0.2 g/t Au was used with a capping of gold
grades varied by deposit and zone. |
|
4. |
A US$1,650/ounce gold price, open pit with heap leach operation was
used to determine the cut-off grade of 0.2 g/t Au. Mining costs of
US$1.40 for oxides, US$2.10 for transition, and US$2.60 for fresh
rock per mined tonne and G&A and milling costs of
US$6.83/milled tonne. The Inferred Mineral Resource Estimate is pit
constrained. |
|
5. |
Metallurgical recoveries have been applied to four individual
deposits and in each case three material types (oxide, transition,
and fresh rock) with average recoveries of 77% for Sewum, 79% for
Boin, 60% for Nyam and 72% for Kwakyekrom. |
|
6. |
A density of 2.20 g/cm3 for oxide, 2.45 g/cm3 for transition, and
2.70 g/cm3 for fresh rock was applied. |
|
7. |
Optimization pit slope angles varied based on the rock types. |
|
8. |
Mineral Resources that are not mineral reserves do not have
economic viability. Numbers may not add due to rounding. |
|
9. |
These numbers are from the technical report titled "Preliminary
Economic Assessment for the Enchi Gold Project, Enchi, Ghana", with
an effective date of June 8, 2021, prepared for Newcore Gold by BBA
E&C Inc. in accordance with National Instrument 43-101
Standards of Disclosure for Mineral Projects and is available under
Newcore’s SEDAR profile at www.sedar.com. |
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 release.
Cautionary Note Regarding
Forward-Looking Statements
This news release includes statements that
contain "forward-looking information" within the meaning of the
applicable Canadian securities legislation ("forward-looking
statements"). All statements, other than statements of historical
fact, are forward-looking statements and are based on expectations,
estimates and projections as at the date of this news release. Any
statement that involves discussion with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions,
future events or performance (often, but not always using phrases
such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes"
or variations (including negative variations) 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)
are not statements of historical fact and may be forward-looking
statements. In this news release, forward-looking statements
relate, among other things, to: statements about the estimation of
mineral resources; results of our ongoing drill campaign, magnitude
or quality of mineral deposits; anticipated advancement of mineral
properties or programs; and future exploration prospects.
These forward-looking statements, and any
assumptions upon which they are based, are made in good faith and
reflect our current judgment regarding the direction of our
business. The assumptions underlying the forward-looking statements
are based on information currently available to Newcore. Although
the forward-looking statements contained in this news release are
based upon what management of Newcore believes, or believed at the
time, to be reasonable assumptions, Newcore cannot assure its
shareholders that actual results will be consistent with such
forward-looking statements, as there may be other factors that
cause results not to be as anticipated, estimated or intended.
Forward-looking information also involves 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 the forward-looking information. Such
factors include, among others: risks related to the speculative
nature of the Company’s business; the Company’s formative stage of
development; the Company’s financial position; possible variations
in mineralization, grade or recovery rates; actual results of
current exploration activities; fluctuations in general
macroeconomic conditions; fluctuations in securities markets;
fluctuations in spot and forward prices of gold and other
commodities; fluctuations in currency markets (such as the Canadian
dollar to United States dollar exchange rate); change in national
and local government, legislation, taxation, controls, regulations
and political or economic developments; risks and hazards
associated with the business of mineral exploration, development
and mining (including environmental hazards, unusual or unexpected
geological formations); the presence of laws and regulations that
may impose restrictions on mining; employee relations;
relationships with and claims by local communities; the speculative
nature of mineral exploration and development (including the risks
of obtaining necessary licenses, permits and approvals from
government authorities); and title to properties.
Forward-looking statements contained herein are
made as of the date of this news release and the Company disclaims
any obligation to update any forward-looking statements, whether as
a result of new information, future events or results, except as
may be required by applicable securities laws. 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.
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