Announcement Date: 2022-03-31
Announcement Type: Deposit Estimation
Announcement Code: NI43-101
Company name: New Gold Inc.
Project name: Rainy River Mine
Location: Canada
Commodities: Gold,Silver
Highlight: Updated mineral resource and ore reserve estimate at Rainy River Mine
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: New Gold Inc. (NG) commissioned Innovexplo Engineering Canada Inc. (Innovexplo) to update the previous NI 43-101. The main goal was to improve processing, production, cash flow and economics. Introducing the UG Main Zones (extension of the Open Pit with an underground production of 4,500tpd). This Technical Report (Report) on the Rainy River Property (Property) has been prepared to a standard which is in accordance with the requirements of National Instrument 43- 101, Standards of Disclosure for Mineral Projects (NI 43-101), of the Canadian Securities Administrators (CSA) for lodgment on CSA’s System for Electronic Document Analysis and Retrieval (SEDAR). The Technical Report will demonstrate the economical value of the extension of the actual Rainy River Open Pit through underground mining in the UG Main Zones. This NI 43-101 reflects the conversion of underground Mineral Resources to Mineral Reserves in this area. Table 1.1 presents an overview of the mine schedule production, contained metals and indicated recovery (open pit, stockpile and UG included)
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