Coventry Resources Files NI 43-101 Technical Report on the Dogpaw Gold Deposit, Western Ontario, Canada
26 Junho 2013 - 2:38PM
Marketwired Canada
Coventry Resources Inc. (TSX VENTURE:CYY) (ASX:CYY) ("Coventry" and the
"Company") is pleased to announce that it has filed a NI 43-101 Technical Report
(the "Report) for the Dogpaw Gold Deposit ("Dogpaw"). The Report is available
on SEDAR (www.sedar.com) and on the Company's website
(http://www.coventryres.com).
Dogpaw is one of several deposits within the Company's Cameron Gold Camp Project
in NW Ontario ("Project") - see Appendix 1.
The Technical Report was prepared according to National Instrument 43-101 ("NI
43-101") Standards of Disclosure of Mineral Resource Projects Form 43-101F1. The
NI 43-101 compliant mineral resource estimate for the Dogpaw Gold Deposit is
shown in Table 1 below.
Table 1- NI 43-101 Compliant Mineral Resource Estimate, Dogpaw Gold Deposit(i)
----------------------------------------------------------------------------
Grade Ounces of
Cut-off grade (g/t gold) Category Tonnes (g/t gold) Gold
----------------------------------------------------------------------------
0.5 Indicated 259,000 2.99 24,900
----------------------------------------------------------------------------
Inferred 158,000 2.71 13,800
----------------------------------------------------------------------------
(i)Mineral resources are not mineral reserves and do not have demonstrated
economic viability. All figures are rounded to reflect the relative accuracy of
the estimate.
ABOUT COVENTRY RESOURCES INC.
Coventry Resources Inc. is advancing the Cameron Gold Camp in northwestern
Ontario, Canada towards production. In addition to the existing resource,
Coventry has identified a number of exploration targets along the Cameron Lake
Shear Zone and at its highly-prospective Rainy River District properties where
the Company believes it can continue to expand Coventry's resource base. The
Company is led by a strong management team with the proven ability to explore,
develop, finance and operate mining projects.
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 release.
QUALIFIED AND COMPETANT PERSONS
Tony Goddard, Vice-President Exploration and Director of Coventry Resources
Inc., who is supervising the Company's exploration at the Cameron Gold Camp
Project which contains the Dogpaw Gold Deposit, is the Company's Qualified
Person, as defined by National Instrument 43-101 and is responsible for the
content of this press release.
The mineral resource statements for all mineral resource estimates within the
Cameron Gold Camp Project have been prepared by Mr Peter Ball of Datageo
Geological Consultants, an "independent qualified person" as that term is
defined in National Instrument 43-101.
FORWARD LOOKING STATEMENTS
This news release may contain "forward-looking statements" and/or
"forward-looking information" within the meaning of applicable securities
regulations in Canada and the United States (collectively, forward-looking
information"). Any forward-looking information contained in this news release is
made as of the date of this news release. Except as required under applicable
securities legislation, Coventry Resources Inc. ("Coventry") does not intend,
and does not assume any obligation, to update this forward-looking information.
Forward-looking information includes, but is not limited to, statements with
respect to mineral resource estimates, drill plans, planned work programs,
future upgrading of mineral resources and expected outcomes. Often, but not
always, forward-looking information can be identified by the use of words such
as "plans", "expects, "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "believes", or the negatives thereof
or variations of such words and phrases or statements that certain actions,
events or results "may", "could", "would", "might", or "will" be taken, occur or
be achieved.
Any forward-looking information contained in this news release is based on
certain assumptions that Coventry believes are reasonable, including, with
respect to any mineral resource estimates, the key assumptions and parameters on
which such estimates are based, that the current price of and demand for gold
will be sustained or will improve, that general business and economic conditions
will not change in a material adverse manner, that financing will be available
if and when needed on reasonable terms, that supplies, equipment, personnel,
permits and local community approval required to conduct Coventry's planned
exploration and development activities will be available on reasonable terms and
that Coventry will not experience any material accident, labour dispute, or
failure of equipment.
However, forward-looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results, performance
or achievements of Coventry to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking
information. Such factors include, among others, risks and uncertainties
relating to the actual results of exploration activities being different than
anticipated, cost of labour increasing more than expected, cost of equipment or
materials increasing more than expected, fluctuations in the price of gold and
other commodities, currency fluctuations, mineral resources not being as
estimated, unexpected variations in mineral resources, grade or recovery rates,
risk of accidents, labour disputes and other risks generally associated with
mineral exploration and unanticipated delays in obtaining or failing to obtain
governmental or community approvals or financing. Although Coventry has
attempted to identify important factors that could cause actual actions, events
or results to differ materially from those described in forward-looking
information, there may be other factors that cause actions, events or results to
not be as anticipated, estimated or intended. There can be no assurance that
forward-looking information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Readers are cautioned not to place undue reliance on forward-looking information
due to the inherent uncertainty thereof.
Appendix 1
NI 43-101 Compliant Mineral Resource Estimate(i) for the Cameron Gold Deposit,
part of the Cameron Gold Camp Project.
----------------------------------------------------------------------------
Grade Ounces of
Cut-off grade (g/t gold) Category Tonnes (g/t gold) Gold
----------------------------------------------------------------------------
1.0 Measured 2,472,000 2.68 213,000
----------------------------------------------------------------------------
Indicated 4,724,000 2.33 354,000
----------------------------------------------------------------------------
Measured &
Indicated 7,196,000 2.45 567,000
----------------------------------------------------------------------------
Inferred 12,226,000 2.11 829,000
----------------------------------------------------------------------------
(i)Mineral resources are not mineral reserves and do not have demonstrated
economic viability. All figures are rounded to reflect the relative accuracy of
the estimate.
NI 43-101 Compliant Mineral Resource Estimate(i) for the Dubenski Gold Deposit,
part of the Cameron Gold Camp Project.
----------------------------------------------------------------------------
Grade Ounces of
Cut-off grade (g/t gold) Category Tonnes (g/t gold) Gold
----------------------------------------------------------------------------
1.0 Indicated 806,000 2.28 59,000
----------------------------------------------------------------------------
Inferred 392,000 1.44 18,200
----------------------------------------------------------------------------
(i)Mineral resources are not mineral reserves and do not have demonstrated
economic viability. All figures are rounded to reflect the relative accuracy of
the estimate.
NI 43-101 Compliant Mineral Resource Estimate(i), Dogpaw Gold Deposit, part of
the Cameron Gold Camp Project.
----------------------------------------------------------------------------
Grade Ounces of
Cut-off grade (g/t gold) Category Tonnes (g/t gold) Gold
----------------------------------------------------------------------------
0.5 Indicated 259,000 2.99 24,900
----------------------------------------------------------------------------
Inferred 158,000 2.71 13,800
----------------------------------------------------------------------------
(i)Mineral resources are not mineral reserves and do not have demonstrated
economic viability. All figures are rounded to reflect the relative accuracy of
the estimate.
Fast Facts TSX-V/ASX: CYY
Share price (26 June 2013) C$0.09
Shares on issue 90.97M
Options ($0.50-$5.00) 3.7M
Warrants ($0.45) 9.4M
Market capitalisation approx. $8.19M
Major Shareholders
Sun Valley Gold Master Fund 15.0%
Macquarie Bank Limited 7.0%
Directors/Management 7.23%
Directors and Management
Steven Chadwick
Director, Interim President and CEO
Tony Goddard
Director and VP Exploration
Don Halliday
Director and VP Investor Relations
Nick Day
Director, CFO and Company Secretary
Eric Edwards
Non-Executive Chairman
Mike Haynes
Non-Executive Director
Robert Boaz
Non-Executive Director
Key Projects
Cameron Gold Camp Project, 100%
Gold Exploration and Development, NW Ontario, Canada
Rainy River District Properties, 100%
Gold Exploration, NW Ontario, Canada
Investment Highlights
Positive Preliminary Economic Study completed for the Cameron Gold Camp
Project.
Large underexplored ground position within close proximity to the Rainy
River Gold Deposit.
FOR FURTHER INFORMATION PLEASE CONTACT:
Coventry Resources Inc.
Steven Chadwick
Interim President and CEO
+61 8 9324 1266
schadwick@coventryres.com
Coventry Resources Inc.
Don Halliday
Vice President, Investor Relations
1 (604) 899 1505
dhalliday@coventryres.com
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