| Announcement Date: | 2022-03-01 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | JORC |
| Company name: | Hochschild Mining Plc |
| Project name: | Snip |
| Location: | Canada |
| Commodities: | Gold |
| Highlight: | Updated Resource Estimate for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Hochschild Mining PLC (“Hochschild” or “the Company”) is pleased to announce an updated Mineral Resource Estimate (“MRE”) for the Snip Gold Project (“Snip” or the “Project”), located in the Golden Triangle and in Tahltan Territory, of northwest British Columbia, Canada. Under the terms of its agreement with Skeena Resources Limited (“Skeena”), Hochschild is in the process of earning-in 60% of Skeena’s interest in the Project and is the manager of operations. This represents the first MRE released by Hochschild with respect to the Project and follows the MRE prepared by Skeena in July 2020. Ignacio Bustamante, Chief Executive Officer said: “We are excited to be issuing an updated mineral resource estimate which reflects not only the 28,000 metres of drilling but also the application of Hochschild’s standard approach to resource evaluation. Estimated indicated mineral resources have more than tripled while inferred resources have almost doubled compared to the 2020 estimate with grades at more than 10 grams per tonne. These results validate our decision to exercise the option to start earning-into the project and provide encouragement for the 2022 drill programme, which began earlier this month. A Pre-Feasibility Study is expected to be completed by the end of the year. We would like to express our gratitude for the support we have received from the Tahltan Nation, the British Columbia Government, employees, contractors and suppliers during this initial period of transition.” Mineral Resource Estimate The mineral resource estimate for the Snip Gold Project is reported at a 3.0 g/t Au cut-off in Table 1 and is effective as of 28 February 2022. Table 1. Mineral Resource Estimate of the Snip Gold Project (see notes at the end of the release) |
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