Newstrike Capital Inc. Announces Maiden NI 43-101 Resource Estimate for the Ana Paula Project, Guerrero, Mexico <NES.V>
Marketwire
Newstrike Capital Inc.
March 27, 2013 - 04:41:39 PM
Newstrike Capital Inc. Announces Maiden NI 43-101 Resource Estimate for the
Ana Paula Project, Guerrero, Mexico
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 27, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES
Newstrike Capital Inc. (TSX VENTURE:NES) ("Newstrike" or the "Company") is
pleased to report its maiden resource estimate prepared in accordance with
National Instrument 43-101 ("NI 43-101") for its flagship Ana Paula Project in
the Municipalities of Cuetzala del Progreso and Apaxtla de Castrejon, Guerrero
State, Mexico. The Ana Paula mineral resource estimate was developed by
Independent Mineral Consultants of Tucson, Arizona, USA ("IMC") for Newstrike
under the direction of Mr. H. E. Welhener. The resource is based on 130
diamond core drillholes aggregating 67,943 metres and containing 45,512 assay
intervals, of which effectively all are assayed for gold and silver. The
mineral resource estimate has an effective date of February 26th, 2013. A full
report prepared in accordance with NI-43-101 (the "Report") will be filed on
SEDAR within 45 days of this news release. The recommendations from the Report
will be used to optimize the pit (see below) and advance the economic
viability of the Ana Paula resource.
Resource Estimate
To meet the "reasonable prospects for economic extraction" requirement the
mineral resource is tabulated within a conceptual floating cone pit shape
defined by using certain metal price, cost, recovery and pit slope assumptions
listed below in Table 1 and applying it to a geologically-constrained resource
block model with 10x10x10 metre block dimensions using a cutoff grade of 0.45
grams per tonne gold equivalent (AuEq) defined by the price, cost and recovery
assumptions. With measured and indicated resource classes included, the
floating cone pit shape is estimated to contain 43.0 million tonnes grading
1.63 grams per tonne for 2.26 million contained gold equivalent ounces. This
includes 2.20 million ounces of 1.59 grams per tonne gold and 9.7 million
ounces of contained silver at grades of 1.56 grams per tonne gold and 7.0
grams per tonne silver. Additional studies are required to determine metal
price, cost, recovery, and pit slope specific to optimizing the pit parameters
used.
Table 1. Resources in Floating Cone Pit Shape, 0.45g/t Equivalent
Gold Cutoff
------------------------------------------------------------------
Au
Au Ag Eq Moz. Moz. Moz
Class Mt g/t g/t g/t Au Ag AuEq
------------------------------------------------------------------
Measured 18.4 2.21 6.2 2.25 1.31 3.7 1.33
------------------------------------------------------------------
Indicated 24.6 1.13 7.6 1.18 0.89 6.0 0.93
------------------------------------------------------------------
M&I 43.0 1.59 7.0 1.63 2.20 9.7 2.26
------------------------------------------------------------------
Inferred 1.8 0.78 18.7 0.89 0.05 1.1 0.06
------------------------------------------------------------------
>>> http://www.newstrikecapital.com/investors/news-releases/index.php?&content_id=120
Marketwire
Newstrike Capital Inc.
March 27, 2013 - 04:41:39 PM
Newstrike Capital Inc. Announces Maiden NI 43-101 Resource Estimate for the
Ana Paula Project, Guerrero, Mexico
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 27, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES
Newstrike Capital Inc. (TSX VENTURE:NES) ("Newstrike" or the "Company") is
pleased to report its maiden resource estimate prepared in accordance with
National Instrument 43-101 ("NI 43-101") for its flagship Ana Paula Project in
the Municipalities of Cuetzala del Progreso and Apaxtla de Castrejon, Guerrero
State, Mexico. The Ana Paula mineral resource estimate was developed by
Independent Mineral Consultants of Tucson, Arizona, USA ("IMC") for Newstrike
under the direction of Mr. H. E. Welhener. The resource is based on 130
diamond core drillholes aggregating 67,943 metres and containing 45,512 assay
intervals, of which effectively all are assayed for gold and silver. The
mineral resource estimate has an effective date of February 26th, 2013. A full
report prepared in accordance with NI-43-101 (the "Report") will be filed on
SEDAR within 45 days of this news release. The recommendations from the Report
will be used to optimize the pit (see below) and advance the economic
viability of the Ana Paula resource.
Resource Estimate
To meet the "reasonable prospects for economic extraction" requirement the
mineral resource is tabulated within a conceptual floating cone pit shape
defined by using certain metal price, cost, recovery and pit slope assumptions
listed below in Table 1 and applying it to a geologically-constrained resource
block model with 10x10x10 metre block dimensions using a cutoff grade of 0.45
grams per tonne gold equivalent (AuEq) defined by the price, cost and recovery
assumptions. With measured and indicated resource classes included, the
floating cone pit shape is estimated to contain 43.0 million tonnes grading
1.63 grams per tonne for 2.26 million contained gold equivalent ounces. This
includes 2.20 million ounces of 1.59 grams per tonne gold and 9.7 million
ounces of contained silver at grades of 1.56 grams per tonne gold and 7.0
grams per tonne silver. Additional studies are required to determine metal
price, cost, recovery, and pit slope specific to optimizing the pit parameters
used.
Table 1. Resources in Floating Cone Pit Shape, 0.45g/t Equivalent
Gold Cutoff
------------------------------------------------------------------
Au
Au Ag Eq Moz. Moz. Moz
Class Mt g/t g/t g/t Au Ag AuEq
------------------------------------------------------------------
Measured 18.4 2.21 6.2 2.25 1.31 3.7 1.33
------------------------------------------------------------------
Indicated 24.6 1.13 7.6 1.18 0.89 6.0 0.93
------------------------------------------------------------------
M&I 43.0 1.59 7.0 1.63 2.20 9.7 2.26
------------------------------------------------------------------
Inferred 1.8 0.78 18.7 0.89 0.05 1.1 0.06
------------------------------------------------------------------
>>> http://www.newstrikecapital.com/investors/news-releases/index.php?&content_id=120