1st Mar 2022 12:04
Hochschild Mining PLC - London-based gold and silver miner operating in North, Central & South America - Upgrades mineral resource estimate at Snip gold project, in the Golden Triangle and in Tahltan Territory, northwest British Columbia, Canada. Is in process of exercising its earn-in option for 60% of Skeena Resources Ltd's interest in the project.
Total indicated resources now stand at 2.5 million tonnes at 10.4 grams per tonne gold, with total inferred now at 2.2 million tonnes, at 10.3 grams per tonne gold. This is significantly higher than the previous figures Skeena had estimated in July of 2020.
"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," says Chief Executive Officer Ignacio Bustamante.
A pre-feasibility study is expected to complete by the end of the year.
Current stock price: 111.80 pence, down 3.7% on Tuesday
12-month change: down 46%
By Elizabeth Winter; [email protected]
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