| Announcement Date: | 2022-02-08 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | NI43-101 |
| Company name: | Element79 Gold Corp. |
| Project name: | Maverick Springs |
| Location: | United States |
| Commodities: | Gold,Silver |
| Highlight: | Updated Resource Estimate for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | VANCOUVER, BC / ACCESSWIRE / January 31, 2022 / Element79 Gold Corp. (CSE:ELEM)(OTC PINK:ELMGF)(FSE:7YS) (“Element79 Gold”, the “Company”) is pleased to announce an updated National Instrument 43-101 compliant, pit-constrained Mineral Resource Estimate (the “MRE”) on the flagship Maverick Springs Project (“Maverick Springs”) located in the famous gold mining district of northeastern Nevada. The MRE report will have the effective date of February 4, 2022. The current MRE was completed by Allan Armitage, PhD., P. Geo., and Rohan Millar, B.Sc., P. Geo. of SGS Canada Inc. This new MRE incorporates an additional 52 drill holes (Figure 2 and 3) drilled since the historical 2004 Mineral Resource Estimate by Snowden Mining Industry Consultants Inc. (the “2004 MRE”)(5) (Table 3.) and is constrained by a conceptual Whittle Pit (Figure 4.). The current MRE while containing a similar gold equivalent ounce total, differs substantially from the 2004 MRE, which was not pit-constrained. The current MRE is entirely classified as Inferred in line with modern National Instrument 43-101 best practices, whereas the historical 2004 MRE had 45% of the resource classified as Indicated. The current MRE is also higher grade (Table 1 and 3). |
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