VANCOUVER (miningweekly.com) – Americas-focused project developer GoldMining Inc has reported a new Canadian National Instrument 43-101-compliant resource estimate for its newly acquired Crucero project, in south-eastern Peru, adding about one-million ounces of gold in the indicated category to its global resource profile.
The TSX-V-listed project consolidator, which bought the Crucero project from Lupaka Gold late last year, said the new estimate includes an indicated resource of 30.65-million tonnes grading 1 g/t gold for one-million ounces of gold and an inferred resource of 35.78-million tonnes grading 1 g/t gold for 1.1-million ounces of gold, using a 0.4 g/t gold cutoff grade.
The resource estimate for the A1 deposit is pit constrained and is but one of several targets identified by geochemistry and geophysics on the Crucero project by previous owners. Future exploration programmes will look to expand the existing resource at the A1 deposit, test several of the nearby targets and complete additional metallurgical test work, the company advised on Tuesday.
The new resource estimate increases GoldMining's global measured and indicated resource to 9.5-million ounces of gold, or 12.4-million ounces of gold equivalent, and lifts the global inferred resources to 11.7–million ounces of gold, or 14.2-million ounces of gold-equivalent across all of its projects, resulting in a 13% increase in the indicated category and an 11% increase in the inferred category.
GoldMining now controls a diversified portfolio of resource-stage gold and gold/copper projects in Canada, the US, Brazil, Colombia and Peru. It also owns a 75% interest in the Rea uranium project, located in the Western Athabasca Basin of Alberta.