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Eldorado Gold Announces Maiden Inferred Mineral Resource of 803,000 Ounces at 9.5 g/t Gold at the Ormaque Deposit in Quebec - Seite 2

Nachrichtenquelle: globenewswire
22.02.2021, 23:24  |  175   |   |   

Inferred Mineral Resources are based on results of 37 diamond drillholes totalling 22,602 meters, most of which were completed since May 2018. This drilling has outlined a volume of mineralization measuring approximately 550 metres east-west, 300 metres north-south, and extending from 150 to 600 metres depth from surface. The geological model of the mineralized lenses was generated by 1) converting individual assays to composites of drill core intervals averaging > 0.5 g/t Au and a minimum length of 0.5m; 2) creating form interpolants using vein orientations of the dominant mineralized vein sets measured from oriented drill core; and 3) employing the form interpolants to correlate composites between drillholes. This process generated 23 gently-dipping mineralized lenses, with individual lenses measuring up to 15 metres thick and up to 400 metres in lateral extent (Figure 3). Individual lenses were then trimmed to exclude volumes more than 50 metres from drillhole intercepts.

A grade estimation block model was generated using ordinary kriging of drillhole assays composited into 1m lengths and capped at 70 g/t Au to limit the influence of high-grade outliers. A 3.5 g/t cut-off grade was applied to incorporate areas of mineralization with reasonable prospects of eventual economic extraction. The cut-off grade was derived from actual cost and metallurgical performance of the Triangle deposit and includes the following forward-looking assumptions:

  • Gold price = $US 1800/oz
  • $CAD / $US exchange rate = 1.3
  • Minimum mining height = 3 metres
  • Mining recovery = 95%
  • Mining dilution = 20% with no contained gold value
  • Metallurgical recovery = 96%

Mineralized domains were edited to excluded volumes that did not meet or exceed a diluted cut-off grade of 3.5 g/t Au over the minimum mining height of 3 metres. Isolated cells above cut-off were also discarded.

The resulting inferred resource totals 2,620,000 tonnes at a grade of 9.53 g/t Au, for 803,000 contained ounces of gold. Over 60% of the resource is in the upper part of the deposit within 400 metres of surface.

Exploration Outlook

Most of the mineralized lenses are open laterally in one or more directions, and the deposit itself is open to the east, west, and at depth. Drilling for the first half of 2021 will include infill holes within several of the upper lenses to confirm continuity of grade and thickness of the inferred resource, step-out holes targeting open extensions to these lenses, and wider step-out holes testing for longer extensions and new lenses in areas adjacent to the deposit. Some of the more prospective targets for the latter include 1) the untested area below the Fortune Zone immediately east of Ormaque, where shallow drillholes have intersected similar vein styles to those found at Ormaque, and 2) gaps in previous drilling between the Ormaque deposit and the Parallel deposit to the west (Figure 4).

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Eldorado Gold Announces Maiden Inferred Mineral Resource of 803,000 Ounces at 9.5 g/t Gold at the Ormaque Deposit in Quebec - Seite 2 VANCOUVER, British Columbia, Feb. 22, 2021 (GLOBE NEWSWIRE) - Eldorado Gold Corporation, (“Eldorado” or the “Company”) is pleased to announce a maiden resource estimate for the recently-discovered Ormaque deposit near its Lamaque operations …

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