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Rocky Shore Gold Releases Mineral Resource Estimate for Gold Anchor Project

Author:
FAQSIR News Desk
Last Updated:
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2 min

#Overview of the Mineral Resource Estimates

Rocky Shore Gold Ltd. has announced a mineral resource estimate for its Gold Anchor Project located in central Newfoundland, detailing significant findings from its Mosquito Hill and Reid Deposits. These estimates indicate a total of approximately 285,303 ounces of gold classified as indicated resources, reflecting the project's strong potential.

#Mosquito Hill and Reid Deposits Details

The Mosquito Hill Deposit showcases an indicated mineral resource of 13.13 million tonnes with a gold grade of 0.46 grams per tonne (g/t), equating to about 194,853 ounces of gold. In addition, this deposit holds 39.44 million tonnes of inferred mineral resources at a grade of 0.42 g/t, totaling approximately 533,867 ounces.

The Reid Deposit, on the other hand, presents an indicated mineral resource of 5.38 million tonnes at 0.52 g/t gold, containing around 90,450 ounces. Furthermore, it includes 5.99 million tonnes of inferred resources at a grade of 0.46 g/t, amounting to roughly 89,218 ounces of gold.

#Deposit Characteristics

Both deposits exhibit promising attributes, particularly in terms of thickness and strip ratios. The Mosquito Hill Deposit averages 102.31 meters in thickness with a strip ratio of 1.5 to 1, while the Reid Deposit averages 89.59 meters thick at a strip ratio of 1.4 to 1. These low strip ratios may contribute to the economic feasibility of future mining operations.

#Future Exploration Plans

The company is poised to expand its mineral resource estimates as it has only explored about 15% of the Gold Anchor Project thus far. A fully funded exploration program for 2026 includes various strategies such as airborne geophysics, targeted prospecting, and diamond drilling, aimed at uncovering new mineralization and augmenting existing resources.

#Qualified Independent Assessment

These mineral resource estimates were prepared by Caracle Creek International Consulting Inc., adhering to the CIM Definition Standards and National Instrument 43-101 requirements. This ensures a credible and standardized approach to the estimation process, essential for maintaining investor confidence.

#Key Takeaways

  • Rocky Shore Gold's Gold Anchor Project hosts significant mineral resources totaling approximately 285,303 ounces of gold in indicated categories.
  • The Mosquito Hill Deposit has an indicated resource of 13.13 million tonnes grading 0.46 g/t gold, while the Reid Deposit has 5.38 million tonnes grading 0.52 g/t.
  • Low strip ratios of 1.5 to 1 and 1.4 to 1 for the deposits suggest favorable economic conditions for potential mining operations.
  • Only about 15% of the project has been explored, indicating substantial room for discovery and growth in resources.
  • A comprehensive exploration program is scheduled for 2026, focusing on new discoveries and resource expansions.

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Frequently Asked Questions

The Mosquito Hill Deposit boasts an Indicated Mineral Resource of 13.13 million tonnes grading 0.46 g/t gold, totalling approximately 194,853 ounces, while the Reid Deposit has an Indicated Resource of 5.38 million tonnes at 0.52 g/t gold, amounting to around 90,450 ounces. This substantial gold inventory suggests promising potential for the project.
The Mosquito Hill and Reid Deposits feature low strip ratios of 1.5 to 1 and 1.4 to 1, respectively. Low strip ratios are beneficial as they indicate less waste material to be removed compared to ore, potentially enhancing the project's economic viability.
Currently, only about 15% of the Gold Anchor Project has been systematically explored. This indicates significant room for discovery and resource expansion, which could positively impact the company's future value.
Rocky Shore Gold plans a fully funded exploration programme for 2026, which includes airborne geophysics, targeted prospecting, and diamond drilling aimed at new discoveries and resource expansion. This proactive approach may enhance the overall value of the project.
Inferred Mineral Resources, as mentioned in the resource estimate, indicate quantities and grades of gold where there is insufficient exploration to classify these resources as Indicated or Measured. While still valuable, Inferred resources carry a higher degree of uncertainty.
Both the Mosquito Hill and Reid Deposits present considerable potential for expansion along strike and at depth. The ongoing exploration could lead to upgrading existing resources and discovering new mineralisation, which is a positive sign for investors.
The mineral resource estimates were prepared by Caracle Creek International Consulting Inc. and comply with the CIM Definition Standards and NI 43-101 standards for mineral projects, ensuring a high level of credibility.
The forthcoming Technical Report, prepared in accordance with NI 43-101, will provide a comprehensive assessment of the resource estimates, including qualifications and assumptions. This document is crucial for investors seeking detailed insight into the project's potential.