VANCOUVER (miningweekly.com) – TSX-V-listed Atlantic Gold has updated the compliant mineral resource estimates for its 100%-owned Fifteen Mile Stream and Cochrane Hill gold deposits, in Nova Scotia.
The company in June completed resource definition drilling programmes on 25 m x 20 m centres with the objective of upgrading resources to measured and indicated categories at both properties.
The new resource estimates resulted in 398 000 oz of gold, grading 1.16 g/t gold, held in 10.66-million tonnes in the combined measured and indicated categories at Cochrane Hill, as well as the definition of 452 000 oz of gold, grading 1.33 g/t gold, held in 10.59-million tonnes in the measured and indicated categories at Fifteen Mile Stream.
“The resource estimates at Fifteen Mile Stream and Cochrane Hill now provide the basis for a prefeasibility study to be completed in Q4 2017. The company expects that these resources will contribute to Atlantic’s Nova Scotia production profile planned to commence with the Touquoy deposit in September,” COO Maryse Bélanger stated in a press release.
The next steps include finalising metallurgical testwork, geotechnical investigations and optimising the mining sequence and production scheduling for the company’s existing mineral reserves and resources in the region, the company advised.
Atlantic currently holds four gold development projects in Nova Scotia, including the Moose River Consolidated Project comprising the Touquoy and the Beaver Dam gold deposits, as well as the Cochrane Hill and Fifteen Mile Stream deposits.