Orca Gold Inc. (TSX.V:ORG) is pleased to announce an updated Mineral Resource Estimate for the Company’s Block 14 Gold Project in the Republic of the Sudan. This estimate will form the basis for the Feasibility Study due for delivery in November this year.
|GALAT SUFAR SOUTH:|
|GSRC727: 123m grading 1.96g/t*||GSRC753: 7m grading 20.77g/t||GSRC786: 10m grading 7.74g/t|
|GSRC728: 50m grading 3.05g/t*||GSRC768: 23m grading 5.02g/t||GSRC788: 26m grading 4.01g/t|
|GSRC734: 61m grading 1.67g/t*||GSRC773: 42m grading 2.08g/t||GSRC794A: 31m grading 2.61g/t|
|GSRC735: 78m grading 1.92g/t*||GSRC774: 23m grading 3.04g/t||GSRC796: 13m grading 3.90g/t|
|GSRC737: 71m grading 2.60g/t*||GSRC776: 12m grading 6.49g/t||GSRC797: 10m grading 8.49g/t|
|GSRC746: 68m grading 3.48g/t||GSRC779: 34m grading 2.22g/t||GSRC798: 27m grading 2.51g/t|
|GSRC746: 27m grading 9.47g/t||GSRC782: 28m grading 3.21g/t||GSRC805: 10m grading 3.95g/t|
|GSRC806: 14m grading 8.96g/t||GSDD059: 12.6m grading 8.46g/t|
|GSRC807: 5m grading 15.23g/t||MET015DD: 6.8m grading 5.29g/t|
|GSRC810: 32m grading 1.88g/t|
|MET015DD: 4m grading 21.14g/t|
Mineral Resource Estimate
The Mineral Resource Estimate was undertaken by MPR Geological Consultants of Perth, Western Australia (“MPR”) as part of the Feasibility Study. MPR estimated mineral resources for the GSS and Wadi Doum deposits using Multiple Indicator Kriging (“MIK”) based on mineralised domains interpreted by MPR and Orca.
Results of the Mineral Resource Estimate are shown below at a range of cut-off grades:
Table 1: Block 14 Mineral Resource Estimate
|Mt||Au g/t||Ag g/t||Au Koz||Ag Koz||Mt||Au g/t||Ag g/t||Au Koz||Ag Koz|
|Notes: The Mineral Resource has been prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum “CIM Definition Standards for Mineral Resources and Mineral Reserves” (CIM, 2014). Numbers may not add up due to rounding.|
Relative to the previous Mineral Resource Estimates, this Mineral Resource Estimate is based on an additional 10,792m of drilling in 7 diamond holes and 57 reverse circulation (“RC”) holes completed at GSS and an additional 1,882m of drilling in 3 diamond holes and 8 RC holes completed at Wadi Doum. All intercepts from 2018’s drill program are outlined in Appendix I of this news release.
Results of the Mineral Resource update are shown below by oxidation category at a cut-off grade of 0.6g/t:
Table 2: Block 14 Mineral Resource Estimate by Oxidation (0.6g/t)
Notes: The Mineral Resource has been prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum “CIM Definition Standards for Mineral Resources and Mineral Reserves” (CIM, 2014). Numbers may not add up due to rounding.
|Ag g/t||Au koz||Ag koz||Mt||Au g/t||Ag
“The drilling completed in 2018 has been specifically aimed at developing Mineral Reserves as part of the Feasibility Study. Given the increase in the scope of the Block 14 project, driven by the 2017 discovery of a major fresh water aquifer system and the successful resource drilling campaigns, we expect to see a significant positive change in the scale and scope of the project with the delivery of the Feasibility Study in November. Exploration will now focus on the expansion of high-grade zones identified at Wadi Doum towards further enhancement of the economics and production potential at Block 14 and drill testing of additional high-grade targets previously identified,” commented Richard Clark, CEO and Director of Orca Gold. “Block 14 has exceeded our expectations and continues to demonstrate that it has a lot more to offer. The delivery of our Feasibility Study will establish the initial economics of this project and will form the base for further growth of this exciting gold camp.”
Drilling in 2018 has continued to add to the geological understanding of GSS and Wadi Doum culminating in the latest Mineral Resource Estimate. Further upside remains in both deposits as this understanding continues to evolve.
Drilling is ongoing at Block 14 focusing for the remainder of the year on Wadi Doum and satellite targets outside the current Resource. The Company is looking to expand the high-grade zones at Wadi Doum and further test the Liseiwi discovery, where previous drilling intersected 24m grading 3.89g/t, 10m grading 15.32g/t and 8m grading 12g/t.
The Mineral Resource Estimate will form the basis of the Feasibility Study, which is on target for completion in November 2018. Below is the status of the Study:
About Orca Gold Inc.
Orca Gold Inc. is a Canadian resource company focused on exploration and development opportunities in Africa, where it is currently developing the 70%-owned Block 14 gold project in the Republic of the Sudan and the Morondo gold project in the West African country of Cote d’Ivoire. The Company has an experienced board of directors and management team and a strong balance sheet.
The technical contents of this release have been approved by Hugh Stuart, BSc, MSc, a Qualified Person pursuant to National Instrument 43-101. Mr. Stuart is the President of the Company, a Chartered Geologist and a Fellow of the Geological Society of London.
The Mineral Resource estimate was carried out by Nic Johnson of MPR Geological Consultants of Perth, Western Australia who is considered to be independent of Orca Gold Inc. Mr. Johnson is a member in good standing of the Australian Institute of Geoscientists and has sufficient experience which is relevant to the commodity, style of mineralization under consideration and activity which he is undertaking to qualify as a Qualified Person under National Instrument 43‐101. Mr. Johnson consents to the inclusion in this press release of the information, in the form and context in which it appears. Samples used for the results described herein are prepared and analyzed by fire assay using a 50 gram charge at the ALS Chemex facility at Rosia Montana in Romania in compliance with industry standards. Field duplicate samples are taken and blanks and standards are added to every batch submitted.
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