TSX-V: VEIN | FSE: N071
TORONTO, Aug. 28, 2018
/CNW/ - Enforcer Gold Corp ("Enforcer" or the "Company") (TSX-V:
VEIN) (FSE: N071) along with SOQUEM are very pleased to announce
the results of the updated mineral resource estimate on the Mop-II
gold-copper deposit at the Company's Roger project. This new
resource estimate is constrained in a conceptual open pit shell.
The project is advantageously located just 5 km north of the
historic mining center of Chibougamau,
Quebec, has all-season road access and is crossed by a power
line that serviced the past-producing Troilus Mine. Enforcer is
earning a 50% interest in the Roger project from project operator,
SOQUEM.
Enforcer Gold President and CEO, Steve Roebuck, comments:
"These results have surpassed our best expectations. We were
optimistic that the updated resource estimate would be a
significant milestone for the Company, but this new estimate is not
only a marked increase in the size of the resource, it is also a
very significant boost in confidence level with over 50% in the
Indicated category. We look forward to further advancing the Roger
project in the upcoming Phase 2 exploration program."
SOQUEM President, Olivier
Grondin, comments:
"SOQUEM is very satisfied with the updated resource estimate
since it provides a new opportunity to further advance the Mop-II
deposit. SOQUEM has a long-term exploration strategy and our
perseverance is rewarded, as SOQUEM staked the property in
1997. This is a major step forward in the development of this
deposit."
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
|
11,143,000
|
1.05
|
377,000
|
0.92
|
331,000
|
Inferred
|
0.45
|
8,676,000
|
1.31
|
365,000
|
1.07
|
298,000
|
Notes to Table 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.
- The effective date of the mineral resource estimate is
July 4, 2018.
- The Qualified Person for the estimate is Christian D'Amours,
PGeo, of GéoPointCom.
- 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.
- 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.
- A minimum thickness of 10m was
used for all sub-vertical zones and assays were composited to
1.0m true width.
- A bulk density of 2.70 g/cm3 was used for the
current estimate.
- Mineral resources are reported as in-situ without dilution and
material loss.
- Rounding may result in apparent differences between tonnes,
grade and contained metal content.
- 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
|
22,244
|
0.59
|
0.83
|
0.06
|
419,000
|
592,000
|
27,932,000
|
494,000
|
0.3
|
17,840
|
0.68
|
0.86
|
0.06
|
392,000
|
492,000
|
23,925,000
|
455,000
|
0.35
|
14,899
|
0.77
|
0.9
|
0.06
|
368,000
|
430,000
|
21,150,000
|
425,000
|
0.4
|
12,819
|
0.85
|
0.94
|
0.07
|
349,000
|
388,000
|
18,842,000
|
400,000
|
0.45
|
11,143
|
0.92
|
0.99
|
0.07
|
331,000
|
353,000
|
17,056,000
|
377,000
|
0.5
|
9,722
|
1
|
1.04
|
0.07
|
313,000
|
325,000
|
15,630,000
|
355,000
|
0.6
|
7,708
|
1.15
|
1.14
|
0.08
|
284,000
|
282,000
|
13,400,000
|
320,000
|
0.7
|
6,265
|
1.28
|
1.22
|
0.08
|
258,000
|
246,000
|
11,722,000
|
290,000
|
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
|
15,013
|
0.72
|
1.62
|
0.10
|
346,000
|
784,000
|
31,643,000
|
432,000
|
0.3
|
12,626
|
0.82
|
1.77
|
0.11
|
331,000
|
719,000
|
29,446,000
|
411,000
|
0.35
|
10,824
|
0.91
|
1.94
|
0.12
|
317,000
|
676,000
|
27,752,000
|
393,000
|
0.4
|
9,781
|
0.98
|
2.05
|
0.12
|
309,000
|
643,000
|
26,323,000
|
380,000
|
0.45
|
8,676
|
1.07
|
2.16
|
0.13
|
298,000
|
604,000
|
24,880,000
|
365,000
|
0.5
|
7,862
|
1.14
|
2.3
|
0.14
|
288,000
|
581,000
|
23,747,000
|
353,000
|
0.6
|
6,452
|
1.31
|
2.61
|
0.15
|
272,000
|
541,000
|
20,814,000
|
329,000
|
0.7
|
5,744
|
1.41
|
2.81
|
0.15
|
260,000
|
519,000
|
19,266,000
|
314,000
|
Notes to Tables 2 and 3:
- 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 and as such it should not be
relied on.
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 lied 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 length 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) within 45 days of
this press release.
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.
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. The project is 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