Announcement Date: 2022-12-19
Announcement Type: Deposit Estimation
Announcement Code: NI43-101
Company name: Signal Gold Inc.
Project name: Point Rousse
Location: Canada
Commodities: Gold
Highlight: Updated Resource and Reserve Estimates for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Signal Gold Inc. (“Signal Gold” or the “Company”), formerly Anaconda Mining Inc. (see press release dated March 28, 2022), is the 100% owner and operator of the Point Rousse Project (“Point Rousse” or the “Project”) in Newfoundland and Labrador. The Company has been producing gold continuously from the Project since September 1, 2010. The Company’s immediate plans at Point Rousse includes the depletion of Mineral Reserves at the Argyle Deposit near the end of Q4, 2022 and milling of remaining Argyle ore during Q1, 2023. At that time the Point Rousse Project will be placed under a care and maintenance program. During care and maintenance, the Company will take the opportunity to review and optimize the Stog’er Tight mine plan and to assess any future mining opportunities as well asreview the exploration potential identified through geological investigations and a recent geophysical survey completed in 2022. The Company is also considering other strategic alternatives to maximize the value of the Point Rousse assets and infrastructure, which includes the only permitted gold producing facility in Newfoundland and Labrador, a permitted in-pit tailings storage
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