Eldorado Gold Corporation (“Eldorado Gold”, the
“Company” or “We”) is pleased to provide new results from step-out
drilling at the Ormaque deposit in Quebec. The company is also
providing an overview of the 2023 global exploration program which
includes approximately 190,000 metres of discovery and resource
expansion drilling and over 55,000 metres of resource conversion
drilling focused mainly in Quebec and Turkiye.
Ormaque Drilling Highlights
Since our most recent resource update at the
Ormaque deposit, announced in February 2022 and published in the
Lamaque Technical Report on March 31, 2022, we have completed over
31,000 metres of resource expansion drilling and over 21,000 metres
of resource conversion drilling. Assay results received since our
October 2022 exploration news update include numerous high-grade
intercepts to the east of, and below the current resource area,
some representing extensions to known mineralized zones and some
related to newly identified mineralized zones. Notable intercepts
include:
- 2.8 metres at 14.86 g/t gold and 2.5
metres at 20.47 g/t gold (27.52 g/t gold uncapped) in drillhole
FOR-22-031, representing step-out intercepts approximately 200
metres east of the current resource;
- 1.2 metres at 22.31 g/t gold and 1.6
metres at 26.86 g/t gold (54.01 g/t gold uncapped) in drillhole
LS-22-089, representing step-out intercepts approximately 40 metres
east of the current resource;
- 3.5 metres at 10.48 g/t gold in
drillhole LS-20-024, representing a new zone approximately 125
metres below the current resource; and
- 1.75 metres at 39.37 g/t gold in
drillhole LS-22-090, representing a new zone approximately 150
metres below the current resource.
“Eldorado Gold is committed to investing in
organic growth opportunities through brownfields exploration
surrounding our current operations, and funding greenfield
exploration initiatives to strategically expand our global
footprint,” said George Burns, President and CEO of Eldorado Gold.
“In Eastern Canada, we have added over 3.2 million inferred
resource ounces since our acquisition of Integra Resources in 2017,
at a discovery cost of less than $18 per ounce. The new results at
Ormaque continue to demonstrate the potential to increase
resources, supporting future development plans beyond the Triangle
deposit.”
“In Turkiye, the team at Efemcukuru is focused
on resource conversion at the Kokarpinar and Bati vein systems and
adding new resources in the nearby West Vein system. In Greece, our
teams are shifting focus to supporting operational readiness at
Skouries, and we expect to ramp up our brownfields exploration
activities as we progress through the project build and near
commercial production.”
* Tables of intercepts from the drilling
referenced in this release are included in Appendix 1 and
associated drillhole collar coordinates and orientations are listed
in Appendix 2. Gold grades for drillhole intervals at the Ormaque
deposit listed in this release are capped at 70 g/t gold. Drillhole
intercepts are drillhole lengths; where sufficient geological
control exists, estimated true thicknesses of mineralized zones are
listed in Appendix 1.
Interactive VRIFY 3D Model
To view an interactive 3D model that includes
the results announced today use the following link or visit
Eldorado Gold's website:
https://vrify.com/decks/12959?auth=f8e46e53-a2c6-45ec-963e-ed217dcd726a
Quebec Exploration Results
Ormaque Deposit
Since the resource update at the Ormaque
deposit, as announced in February 2022, the Company has completed
over 31,000 metres of resource expansion drilling. This drilling
has targeted lateral extensions to the known ore lenses east of the
current resource area, and has tested for new mineralized zones at
depth. Significant intercepts received since the last exploration
update in October 2022 are included in Appendix 1, while Appendix 2
and Figure 1 provide information on locations and orientations of
new drillholes. The latest drill results have identified lateral
extensions to the Ormaque deposit well outside the current resource
model as well as new zones at depth. Lateral extensions include new
intercepts to the east, southeast, and south, most notably:
- 2.8 metres at
14.86 g/t gold, 2.5 metres at 20.47 g/t gold (27.52 g/t gold
uncapped), and 9.15 metres at 6.20 g/t gold (9.03 g/t gold
uncapped) in drillhole FOR-22-031, approximately 200 metres east of
the current resource; and
- 1.2 metres at
22.31 g/t gold and 1.6 metres at 26.86 g/t gold (54.01 g/t gold
uncapped) in drillhole LS-22-089, approximately 40 metres east of
the current resource.
Figure 1: Geological map of the Ormaque deposit
area, showing surface projection of mineralized zones (pink shaded
area), collar locations and surface traces of new drillholes
presented in this news release.
https://www.globenewswire.com/NewsRoom/AttachmentNg/dace114f-9a74-45b7-92ad-f1ae5c4ec161
Preliminary drilling has tested below parts of
the deposit to a depth of 850 metres, or approximately 300 metres
below the current resource. Despite still being sparsely drilled,
numerous intercepts have been identified in this lower area below
the current resource model, including:
- 5.4 metres at
14.31 g/t gold in drillhole LS-22-090W01, approximately 20 metres
below the current resource;
- 3.5 metres at
10.48 g/t gold in drillhole LS-20-024, approximately 125 metres
below the current resource;
- 1.75 metres at
39.37 g/t gold in drillhole LS-22-090, approximately 150 metres
below the current resource;
- 4.95 metres at
7.23 g/t gold in drillhole LS-22-091, approximately 120 metres
below the current resource; and
- 2.1 metres at
29.27 g/t gold and 3.0 metres at 14.72 g/t gold in drillhole
LS-22-091W01, approximately 45 metres and 120 metres below the
current resource respectively.
In 2022 and year-to-date 2023, 20,859 metres of
resource conversion drilling have been completed at the Ormaque
deposit.
Eldorado Gold’s 2023 Mineral Reserve and Mineral
Resource (“MRMR”) update, scheduled for the fourth quarter of this
year, will incorporate results of both the resource expansion and
resource conversion drilling programs completed in the first half
of 2023.
2023 Exploration Outlook
Eldorado Gold’s exploration activities in 2023
are focused on the regions in which we operate: Canada, Turkiye and
Greece, and include a range of brownfield and greenfield projects
and project generation initiatives. As per the guidance news
release published in February 2023, the global exploration
expenditures planned for 2023 are $35 million to $41 million and
include approximately 190,000 metres of pre-resource stage and
resource expansion drilling and over 55,000 metres of resource
conversion drilling. Approximately 26% relates to capitalized
programs and the remaining 74% to expensed programs. Included in
this total are $7 to $10 million of non-sustaining exploration
expenditures classified as growth capital.
Eastern Canada
Triangle Mine
The recent development of the 650-level
exploration drift at the Triangle Mine provides access to deeper
platforms for resource expansion and resource conversion drilling
of the lower Triangle deposit. Approximately 17,600 metres of
resource conversion drilling is planned for 2023, mainly targeting
areas of inferred resources in the C7 zone but also extending
locally to test more sparsely drilled areas of deeper mineralized
zones. There are also approximately 13,000 metres of underground
exploration drilling planned from platforms along the
Sigma-Triangle decline, testing multiple conceptual targets and
step-outs from previous high-grade drill intercepts.
Ormaque Deposit
The 2023 exploration program at Ormaque will
include approximately 27,000 metres of underground resource
conversion drilling within existing inferred resources, and
approximately 10,000 metres of surface drilling testing step-outs
to the east of and below the known deposit. Conversion drilling
during the year will test the upper two-thirds of the deposit (down
to lens E100) with piercing points spaced at 25 metres or less.
Sigma-Lamaque and Bourlamaque Brownfields
Exploration
Eldorado Gold is advancing multiple early- to
advanced-stage exploration projects in the Val-d’Or district that
provide opportunities for brownfield resource growth proximal to
the Sigma mill (Figure 2). Over 45,000 metres of drilling are
planned on targets that include:
-
Parallel deposit extensions:
Approximately 5,000 metres of drilling will test for the extension
of the historically mined Vein #13 at the Lamaque Mine into the
Parallel deposit area.
-
Herbin: Approximately 10,000 metres of drilling
will test several target areas adjacent to the previously mined
deposits at the Lac Herbin, Ferderber and Dumont mines, which
cumulatively produced approximately 1.1 million ounces of gold at a
grade of 6.1 g/t gold from shear hosted quartz-carbonate-tourmaline
veins that cut the Bourlamaque batholith.
-
Sigma-Lamaque early-stage targets: Approximately
12,000 metres of early-stage drilling are planned for the Vein #13,
Sector Nord, and Audet North and South targets, along with
fieldwork and analysis of historical mining and exploration data
directed towards new target definition.
-
Bourlamaque early-stage targets: 12,000 metres of
drilling will test various early-stage targets mainly within the
Bourlamaque Batholith which have been defined by a combination of
historical drilling results, geophysical anomalies, till
geochemistry, and geological mapping. The drilling will target
high-grade vein systems similar in geological setting and
mineralization style to those historically mined at the Beaufor
mine and the mines in the Herbin area.
-
Bruell: The Bruell property, located 40 kilometres
east of Val-d’Or, is being explored under an option agreement with
owner Sparton Resources. Approximately 7,000 metres of drilling are
planned in 2023 to follow up on positive results from the 2022
program and to test new targets.
Figure 2: Geological map
showing the locations of the Brownfields projects on the Lamaque
property.
https://www.globenewswire.com/NewsRoom/AttachmentNg/d7c42677-10c1-4656-99ce-f82e5c37521b
Eastern Canada Greenfields Exploration
Eldorado Gold’s greenfields exploration in
Canada is currently focused on target areas within the greater
Abitibi region that offer opportunities outside of the Lamaque
projects. The Company’s current greenfields portfolio includes the
Montgolfier project, comprising a 347 square kilometre license
package along the Harricana-Turgeon greenstone belt to the east of
the Casa Berardi mine, and a group of licenses in the Kirkland Lake
belt currently being explored under an option agreement with the
license holder Val-d’Or Mining Corp. At Montgolfier, a 5,000-metre
diamond drilling program is currently underway, testing for the
bedrock source of highly anomalous gold-in-till anomalies
identified in a previous sonic drilling program. The Kirkland Lake
licenses are at the target definition stage, and fieldwork
including soil sampling, outcrop stripping and sampling, and
geological mapping is planned for the 2023 season.
Turkiye
2023 exploration in Turkiye is focused on
resource expansion and resource conversion drilling at Efemcukuru
and advancing several early-stage greenfields projects in highly
prospective priority regions throughout Turkiye.
Efemcukuru
A 10,000-metre resource conversion drilling
program is currently underway at the Kokarpinar South vein system.
Results from this drilling, and the resource conversion drilling at
the Bati vein system during late 2022, will be included in the MRMR
update in the fourth quarter of 2023. The drilling focus for the
second half of 2023 will be on the West Vein system, which has a
mapped cumulative strike length of over three kilometres
distributed over the Volkan, Huseyinburnu, Dedabag, and Muhtar
veins. Approximately 43,000 metres of drilling are planned, testing
multiple previously undrilled targets with high-grade surface
samples.
Greenfields Projects
Eldorado Gold continues to explore regions of
Turkiye that offer strong exploration potential and attractive
social and political environments for resource exploration and
development. Current programs are focused on the Artvin/Hod Maden
and Aydogantepe areas, the Izmir-Ankara Suture Zone, and the
Central Anatolian Crystalline Complex (“CACC”). Project generation
activities and early-stage project work within the CACC are being
conducted with a Turkish joint venture partner. Approximately
14,000 metres of drilling are planned for 2023 to test early-stage
targets at the Hod Maden North, Atalan, Demirkoy, and Ozan
projects.
Qualified Persons
Dr. Peter Lewis P.Geo., Eldorado Gold’s
Vice President, Exploration, is the qualified person as defined by
National Instrument 43-101 Standards of Disclosure for Mineral
Projects (“NI 43-101”), and is responsible for and has verified and
approved the scientific and technical disclosure contained in this
press release for projects in Turkiye. Jacques Simoneau P.Geo., a
member in good standing of the Ordre des Géologues du Québec, is
the qualified person as defined in NI 43-101, and is responsible
for and has verified and approved the scientific and technical
disclosure contained in this press release for the Quebec projects.
Eldorado Gold operates its exploration programs according to
industry best practices and employs rigorous quality assurance and
quality control procedures. All results are based on half-core
samples of diamond drill core. Drill core samples for the
Ormaque deposit step-out drilling were prepared and analyzed
at Bourlamaque Laboratories in Val d’Or, Quebec. All gold assays
are based on fire assay analysis of a 30 gm charge, followed
by an atomic adsorption finish. Samples with gold grades above
5.0 g/t were re-assayed and completed with a gravimetric finish.
Certified standard reference materials, field duplicates and blank
samples were inserted regularly and were closely monitored to
ensure the quality of the data.
About Eldorado Gold
Eldorado Gold is a gold and base metals producer
with mining, development and exploration operations in Turkiye,
Canada, and Greece. The Company has a highly skilled and dedicated
workforce, safe and responsible operations, a portfolio of
high-quality assets, and long-term partnerships with local
communities. Eldorado Gold's common shares trade on the Toronto
Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE:
EGO).
Contacts
Investor Relations
Philip Yee, EVP and Chief Financial
Officer604.687 4018 or 1.888.353.8166
philip.yee@eldoradogold.com
Media
Louise McMahon, Director Communications &
Public Affairs604.757 5573 or 1.888.353.8166
louise.mcmahon@eldoradogold.com
Cautionary Note about Forward-looking
Statements and Information Certain of the statements
made and information provided in this press release are
forward-looking statements or information within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities laws. Often, these forward-looking
statements and forward-looking information can be identified by the
use of words such as “anticipates”, “believes”, “budgets”,
“continue”, “commitment”, “confident”, “estimates”, “expects”,
“focus”, “forecasts”, “future”, “guidance”, “intends”,
“opportunity”, “outlook”, “plans”, “possible”, “potential”,
“projected”, “prospective”, “schedule”, “target” or the negatives
thereof or variations of such words and phrases or statements that
certain actions, events or results “can”, “could”, “likely”, “may”,
“might”, “will” or “would” be taken, occur or be achieved.
Forward-looking statements or information
contained in this press release include, but are not limited to,
statements or information with respect to: growth opportunities;
exploration outlook, timing and targets; risk factors affecting our
business; our expectations as to our future financial and operating
performance, including future cash flow, estimated cash costs,
expected metallurgical recoveries and gold price outlook; and our
strategy, plans and goals, including our proposed exploration,
development, construction, permitting and operating plans and
priorities, related timelines and schedules. Forward-looking
statements and forward-looking information by their nature are
based on assumptions and involve known and unknown risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements or information.
We have made certain assumptions about the
forward-looking statements and information, including assumptions
about: production and cost expectations; the total funding required
to complete Skouries; our ability to meet our timing objectives for
drawdown of the Skouries project financing facility (the
“Facility”); our ability to execute our plans relating to Skouries,
including the timing thereof; our ability to obtain all required
approvals and permits; cost estimates in respect of Skouries; no
changes in input costs, exchange rates, development and gold; the
geopolitical, economic, permitting and legal climate that we
operate in, including at Skouries; how the worldwide economic and
social impact of COVID-19 is managed and the duration and extent of
the COVID-19 pandemic; timing, cost and results of our
construction, improvements and exploration; the future price of
gold and other commodities; the global concentrate market; exchange
rates; anticipated values, costs, expenses and working capital
requirements; production and metallurgical recoveries; mineral
reserves and resources; and the impact of acquisitions,
dispositions, suspensions or delays on our business and the ability
to achieve our goals. In addition, except where otherwise stated,
we have assumed a continuation of existing business operations on
substantially the same basis as exists at the time of this press
release.
Even though our management believes that the
assumptions made and the expectations represented by such
statements or information are reasonable, there can be no assurance
that the forward-looking statement or information will prove to be
accurate. Many assumptions may be difficult to predict and are
beyond our control.
Furthermore, should one or more of the risks,
uncertainties or other factors materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in forward-looking statements or information.
These risks, uncertainties and other factors include, among others,
the following: the outcome of planned technical studies, production
and exploration, development, optimization and expansion plans at
the Company’s projects; possible variations in ore grade or
recovery rates; changes in mineral resources and mineral reserves;
costs and timing of the development of new deposits; success of
exploration activities; increases in financing costs or adverse
changes to the Facility; failure or delays to receive necessary
approvals or otherwise satisfy the conditions to the drawdown of
the Facility; the proceeds of the Facility not being available to
the Company or Hellas Gold Single Member S.A.; ability to execute
on plans relating to Skouries, including the timing thereof,
ability to achieve the social impacts and benefits contemplated;
ability to meet production, expenditure and cost guidance; risks
relating to the ongoing COVID-19 pandemic and any future pandemic,
epidemic, endemic or similar public health threats; timing and cost
of construction, and the associated benefits; ability to achieve
expected benefits from improvements, recoveries of gold and other
metals; risks relating to our operations being located in foreign
jurisdictions; community relations and social license; climate
change; liquidity and financing risks; development risks;
indebtedness, including current and future operating restrictions,
implications of a change of control, ability to meet debt service
obligations, the implications of defaulting on obligations and
change in credit ratings; environmental matters; waste disposal;
the global economic environment; government regulation; reliance on
a limited number of smelters and off-takers; commodity price risk;
mineral tenure; permits; risks relating to environmental
sustainability and governance practices and performance;
non-governmental organizations; corruption, bribery and sanctions;
litigation and contracts; information technology systems;
estimation of mineral reserves and mineral resources; production
and processing estimates; credit risk; actions of activist
shareholders; price volatility, volume fluctuations and dilution
risk in respect of our shares; reliance on infrastructure,
commodities and consumables; currency risk; inflation risk;
interest rate risk; tax matters; dividends; financial reporting,
including relating to the carrying value of our assets and changes
in reporting standards; labour, including relating to
employee/union relations, employee misconduct, key personnel,
skilled workforce, expatriates and contractors; reclamation and
long-term obligations; regulated substances; necessary equipment;
co-ownership of our properties; acquisitions, including integration
risks, and dispositions; the unavailability of insurance; conflicts
of interest; compliance with privacy legislation; reputational
issues; competition, as well as those risk factors discussed in the
sections titled "Managing Risk" in our Management's Discussion and
Analysis for the three and twelve months ended December 31, 2022
and in the sections titled “Forward-looking information and risks”
and “Risk factors in our business” in our most recent Annual
Information Form & Form 40-F. The reader is directed to
carefully review the detailed risk discussion in our most recent
Annual Information Form & Form 40-F filed on SEDAR and EDGAR
under our Company name, which discussion is incorporated by
reference in this release, for a fuller understanding of the risks
and uncertainties that affect our business and operations.
The inclusion of forward-looking statements and
information is designed to help you understand management’s current
views of our near- and longer-term prospects, and it may not be
appropriate for other purposes.
There can be no assurance that forward-looking
statements or information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, you should not place
undue reliance on the forward-looking statements or information
contained herein. Except as required by law, we do not expect to
update forward-looking statements and information continually as
conditions change and you are referred to the full discussion of
the Company’s business contained in the Company’s reports filed
with the securities regulatory authorities in Canada and the United
States.
Mineral resources which are not mineral reserves
do not have demonstrated economic viability. With respect to
“indicated mineral resource” and “inferred mineral resource”, there
is a great amount of uncertainty as to their existence and a great
uncertainty as to their economic and legal feasibility. It cannot
be assumed that all or any part of a “measured mineral resource”,
“indicated mineral resource” or “inferred mineral resource” will
ever be upgraded to a higher category.
The potential quantity and grade of
mineralization described herein is conceptual in nature as there
has been insufficient exploration to define a mineral resource and
it is uncertain if further exploration will result in targets being
delineated as a mineral resource.
Appendix 1: Table of Assay Results
Table 1: Summary of resource
expansion drillhole assay results from the Ormaque Deposit.
Intercepts are only reported for those intervals above a 10 gram x
metre cut-off. Drillhole collar locations, collar orientations, and
total lengths are listed in Appendix 2.
Drillhole |
From (m) |
To (m) |
Interval |
True thickness |
Au (g/t) |
Aucapped at 70 g/t |
Zone / Location |
FOR-22-030 |
580.7 |
582.4 |
1.7 |
|
11.99 |
|
Step-out intercept, 310m SE of current resource |
599.55 |
607.2 |
7.65 |
|
3.54 |
|
Step-out intercept, 320m SE of current resource |
685.5 |
689.3 |
3.8 |
|
8.50 |
|
Step-out intercept, 360m SE of current resource |
FOR-22-031 |
37.6 |
40.4 |
2.8 |
2.76 |
14.86 |
|
Step-out intercepts, 220m east of current resource |
61.8 |
70.95 |
9.15 |
9.03 |
6.20 |
|
72.5 |
75.7 |
3.2 |
3.08 |
9.12 |
|
95.25 |
96.75 |
1.5 |
|
10.96 |
|
339.5 |
342 |
2.5 |
|
27.52 |
20.47 |
Step-out intercept, 190m east of current resource |
LS-19-009_R |
665 |
665.5 |
0.5 |
|
20.66 |
|
Intercept 25m above E210 |
709.5 |
712 |
2.5 |
|
16.93 |
|
Intercept 20m below E220 |
LS-20-024 |
833.9 |
835.6 |
1.7 |
|
9.61 |
|
Deep intercepts, 80-160m below current resource |
872.7 |
873.4 |
0.7 |
|
17.60 |
|
880.3 |
883.8 |
3.5 |
|
10.48 |
|
902 |
903.5 |
1.5 |
|
27.98 |
|
LS-21-077 |
131.4 |
132.9 |
1.5 |
|
11.70 |
|
Step-out intercept, 230m north of current resource |
240.5 |
243.2 |
2.7 |
|
6.28 |
|
Step-out intercept, 170m north of current resource |
LS-22-088 |
844.15 |
849.65 |
5.5 |
|
4.79 |
|
Deep intercept, 400m below current resource |
LS-22-089 |
173 |
174.2 |
1.2 |
|
22.31 |
|
Step-out intercepts, 40m east of current resource |
389.2 |
390.8 |
1.6 |
|
54.01 |
26.86 |
401.1 |
402.7 |
1.6 |
|
7.88 |
|
411.7 |
413 |
1.3 |
|
14.85 |
|
430.5 |
436 |
5.5 |
|
4.19 |
|
LS-22-090 |
230.6 |
231.1 |
0.5 |
0.47 |
26.36 |
|
Step-out intercept on E030, 35m south of current resource |
325.85 |
327.8 |
1.95 |
1.85 |
5.20 |
|
New lens E085, 20m above E090 |
382.5 |
383 |
0.5 |
0.47 |
61.19 |
|
Intercept 10m below E110 |
417.6 |
418.65 |
1.05 |
|
27.16 |
|
Intercept 10m above E130 |
455.7 |
456.7 |
1 |
0.95 |
24.25 |
|
New lens E145, 10m below E140 |
782.35 |
784.1 |
1.75 |
|
39.37 |
|
Deep intercept, 150m below current resource |
876.4 |
878.5 |
2.1 |
|
5.41 |
|
Deep intercept, 250m below current resource |
LS-22-090W01 |
377 |
377.75 |
0.75 |
0.7 |
14.46 |
|
Step-out intercept on E110, 10m south current resource |
657 |
662.4 |
5.4 |
4.82 |
16.77 |
14.31 |
New lens E235, 20m below current resource |
771 |
771.5 |
0.5 |
|
67.65 |
|
Intercept 120m below current resource |
LS-22-091 |
435.5 |
437 |
1.5 |
|
89.76 |
47.24 |
Intercept 15m above E130 |
454 |
454.7 |
0.7 |
0.64 |
47.34 |
|
New lens E135, 12m below E130 |
487.5 |
488 |
0.5 |
|
23.57 |
|
Intercept 15m above E150 |
516.3 |
516.8 |
0.5 |
0.45 |
29.62 |
|
New lens E165, 10m below E160 |
655.2 |
657.2 |
2 |
|
62.84 |
35.13 |
Intercept 15m below E220 |
691.9 |
693 |
1.1 |
0.95 |
33.40 |
|
New lens E235, 25m below current resource |
709.35 |
711.15 |
1.8 |
|
76.30 |
33.33 |
Intercept 40m below current resource |
716.95 |
722.15 |
5.2 |
|
4.07 |
|
Intercept 45m below current resource |
794.7 |
799.65 |
4.95 |
|
7.23 |
|
Intercept 120m below current resource |
825.2 |
828.4 |
3.2 |
|
3.44 |
|
Intercept 150m below current resource |
LS-22-091W01 |
686.5 |
688 |
1.5 |
1.29 |
35.89 |
|
New lens E235, 25m below current resource |
705.75 |
707 |
1.25 |
|
18.11 |
|
Intercept 40m below current resource |
715 |
717.1 |
2.1 |
|
29.49 |
29.27 |
Intercept 45m below current resource |
789 |
792 |
3.0 |
|
16.38 |
14.72 |
Intercepts 120m below current resource |
794.75 |
795.25 |
0.5 |
|
43.71 |
|
LS-22-092 |
788.5 |
793 |
4.5 |
|
2.40 |
|
Intercept 115m below current resource |
811 |
811.5 |
0.5 |
|
33.21 |
|
Intercept 130m below current resource |
LS-22-093A |
795 |
796.1 |
1.1 |
|
20.55 |
|
Intercept 125m below current resource |
LS-22-094 |
213.5 |
214 |
0.5 |
0.46 |
33.27 |
|
Step-out intercept on E030, 100m south of current resource |
381.9 |
383.9 |
2 |
1.81 |
6.68 |
|
Intercept 5 m below E110 |
387.7 |
388.7 |
1 |
|
12.56 |
|
Intercept 15m above E120 |
412.7 |
413.2 |
0.5 |
0.44 |
49.38 |
|
Step-out intercept on E130, 40m S-E of current resource |
422.2 |
425.3 |
3.1 |
2.82 |
18.13 |
13.93 |
Step-out intercept on E133, 30m S-E of current resource |
551.7 |
552.7 |
1 |
|
15.95 |
|
Intercept 50m above E180 |
LS-22-093, LS-22-093AM01 |
No significant intercepts |
Appendix 2: Collar locations
Table 1: Summary of drillhole collar locations
and collar orientations and total lengths from the Ormaque Deposit
listed in this news release. Assay results are listed in Appendix
1.
Hole ID |
Easting |
Northing |
Elevation |
Azimuth |
Dip |
Length (m) |
FOR-22-030 |
296078 |
5330212 |
317 |
184 |
-80 |
705.80 |
FOR-22-031 |
296078 |
5330212 |
317 |
4 |
-79 |
629.40 |
LS-19-009_R |
295726 |
5329967 |
324 |
359 |
-59 |
948.75 |
LS-20-024 |
295724 |
5329922 |
323 |
357 |
-60 |
1004.82 |
LS-21-077 |
295654 |
5330616 |
318 |
185 |
-57 |
489.05 |
LS-22-088 |
296175 |
5330718 |
326 |
175 |
-82 |
1334.20 |
LS-22-089 |
295976 |
5329982 |
324 |
346 |
-68 |
620.04 |
LS-22-090 |
295837 |
5330050 |
324 |
359 |
-66 |
938.22 |
LS-22-090W01 |
295837 |
5330050 |
324 |
359 |
-66 |
981.05 |
LS-22-091 |
295653 |
5330050 |
324 |
5 |
-62 |
1027.25 |
LS-22-091W01 |
295653 |
5330050 |
324 |
5 |
-62 |
1045.10 |
LS-22-092 |
295974 |
5329987 |
324 |
350 |
-62 |
985.55 |
LS-22-093 |
295533 |
5330084 |
325 |
350 |
-70 |
111.94 |
LS-22-093A |
295533 |
5330084 |
325 |
355 |
-68 |
1005.20 |
LS-22-093AM01 |
295533 |
5330084 |
325 |
355 |
-68 |
1448.90 |
LS-22-094 |
295887 |
5330066 |
324 |
5 |
-78 |
1034.27 |
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