Giant Mining Corp. Overview of 1,237,000 Ounce Friday Gold Deposit, Idaho USA
1
*Press Release September 27, 2024
Giant Mining Corp. Overview of 1,237,000 Ounce
Friday Gold Deposit, Idaho USA
VANCOUVER, BC — September 27, 2024 — Giant Mining Corp. (CSE: BFG |
OTC: BFGFF | FWB: YW5) (“Giant Mining” or the “Company”) announces an
update on its Friday Gold Project ( “Friday Gold ”), located at Orogrande,
approximately 16 km south -southwest of Elk City in the Orogrande Mining District,
Idaho, USA, in which the Company holds a 20% ownership stake.
The Historical NI 43 -101 Mineral Resource Estimate ( “MRE”) dated Effective
February 19th, 2013 entitled "Technical Report, Idaho Gold Project, Idaho County,
Idaho, USA"1 (the "Report") did not include drilling that took place after the Effective
date of the MRE.
The NI 43-101 historical resource estimate was based on the results of approximately
30,480 meters (100,000 ft) of drilling, 70 core holes with 17,368 meters (56,981 ft)
and 107 RC holes with 13,141 meters (43,115 feet) of drilling. Grades as high as
447.81 g/t gold were noted in the report.2
David Greenway, CEO of Giant Mining, recently stated, “We couldn’t be more excited
that gold is trading at an all-time near $2,700 per ounce. We are eager to provide an
updated overview of Giant’s 20% shareholding in the Friday Gold Project—a value we
believe the market has yet to fully reflect in our company ’s market cap. With 1.237
million ounces of gold indicated and inferred, and the potential for further expansion
by incorporating 14 already drilled holes with outstanding results, the project remains
open in all directions, with several new targets. We believe the time is right to update
the NI 43 -101 and unlock the full potential of the Friday Gol d Deposit for all
stakeholders.”
1 Premium Exploration Files Technical Report on the Idaho Gold Property (yahoo.com)
2 https://finance.yahoo.com/news/premium-exploration-files-technical-report-
224112517.html
2
The summary of the MRE are as follows:
CUT-OFF
g/t Au
INDICATED INFERRED
Tonne's
(000's) AU g/t oz Au Tonne's
(000's) AU g/t oz Au
0.35 24,737 0.89 705,000 25,069 0.8 644,000
0.4 22,358 0.94 677,000 22,924 0.84 618,000
0.45 20,130 1.00 647,000 20,847 0.88 590,000
0.5 18,093 1.06 615,000 18,832 0.92 559,000
0.55 16,214 1.05 547,000 4,029 0.91 117,000
Notes to accompany Mineral Resource tables:
1. Mineral Resources that are not Mineral Reserves do not have demonstrated
economic viability.
2. Mineral resources are amenable to open pit mining methods and have been
constrained using a Lerches-Grossmann optimized pit.
3. Assumptions include US$1,500/oz Au, 85% Au recovery, $2.50/tonne mining
cost, $2.00/tonne waste mining cost, $12.00/tonne process and G&A cost.
No allowances have been made for mining losses and dilution. Pit slope angle
of 45°.
4. The Company has elected to use a 0.45 g/t gold cut-off (bolded) which is
greater than the conceptual marginal cut-off of 0.36 g/t.
5. Gold analyses are performed by fire assay/AA finish methods.
Mineral Resource Estimate from 2013 NI 43 -101 Report with 1,237,000
ounces of gold Indicated + Inferred
3
The Friday Gold consists of a Historical NI 43 -101 MRE containing an indicated
647,000 Ounces of Gold at an average grade of 1.0 Gram per tonne and a further
inferred resource of 590,000 ounces at an average grade of 0.88 grams per tonne
using a cut off grade of 0.45 grams per tonne.
Some of the headlines and results from the drilling reported by Premium Exploration
Inc. (“Premium”) in 2013 and 2014, after the date of the NI 43-101 are as follows:
“Premium Exploration Encounters 151 Meters (496 Feet) of 2.68 g/t Gold
at Its Idaho Gold Project” – January 23rd, 20143
Highlights of PFR2013-1: Highlights of PFR2013-2:
2.69 g/t gold over 151 meters
including:
1.66 g/t gold over 123.3 meters
including:
- 5.62 g/t over 54.1 meters
-2.37 g/t gold over 36.4 meters
- 15.19 g/t over 9.14 meters -3.68 g/t gold over 6.1 meters
-2.54 g/t gold over 17.5 meters
-3.87 g/t gold over 6.5 meters
-2.83 g/t gold over 15 meters
-3.72 g/t gold over 7.5 meters
“Premium Reports 5.23 G/T over 112.8 Meters at the Friday Deposit,
Idaho including 32.22 G/T over 6.6 Meters” 4
Highlights of PFR2014-5: Highlights of PFR2014-6:
1.07 g/t gold over 128.1 meters
including:
5.23 g/t gold over 112.8 meters
including:
-9.55 g/t gold over 5.3 meters
-3.47 g/t gold over 4.5 meters -9.24 g/t gold over 1.8 meters
3 Premium Exploration Encounters 151 Meters (496 Feet) of 2.68 g/t Gold at Its Idaho Gold
Project (yahoo.com)
Premium Exploration Reports 5.23 G/T over 112.8 Metres at the Friday Deposit, Idaho
Including 34.22 G/T Gold Over 6.6 Metres (yahoo.com)
4 Premium Exploration Encounters 151 Meters (496 Feet) of 2.68 g/t Gold at Its Idaho Gold
Project (yahoo.com)
Premium Exploration Reports 5.23 G/T over 112.8 Metres at the Friday Deposit, Idaho
Including 34.22 G/T Gold Over 6.6 Metres (yahoo.com)
4
-2.07 g/t gold over 8.5 meters -22.90 g/t gold over 0.8 meters
-3.83 g/t gold over 5.0 meters -34.22 g/t gold over 6.6 meters
--6.54 g/t gold over 5.3 meters
Highlights of PFR2014-8: Highlights of PFR2014-9:
2.10 g/t gold over 98.3 meters
including:
1.36 g/t gold over 92.36 meters
including:
-6.82 g/t gold over 2.3 meters -4.43 g/t gold over 6.5 meters
-3.96 g/t gold over 1.5 meters -4.91 g/t gold over 1.8 meters
-12.35 g/t gold over 0.8 meters -3.97 g/t gold over 1.8 meters
-12.12 g/t gold over 3.1 meters -2.32 g/t gold over 1.1 meters
-26.94 g/t gold over 1.5 meters -2.95 g/t gold over 2.7 meters
-11.99 g/t gold over 1.5 meters -2.04 g/t gold over 2.7 meters
-2.25 g/t gold over 1.8 meters
Highlights of PFR2014-10: Highlights of PFR2014-11:
2.43 g/t gold over 96.2 meters
including:
0.94 g/t gold over 72.7 meters
including:
-17.53 g/t gold over 2.3 meters -2.69 g/t gold over 4.5 meters
-11.51 g/t gold over 0.8 meters -3.18 g/t gold over 4.3 meters
-28.73 g/t gold over 3.1 meters -1.68 g/t gold over 2.3 meters
-5.09 g/t gold over 2.0 meters
-2.31 g/t gold over 4.6 meters
Highlights of PFR2014-12: Highlights of PFR2014-13:
0.48 g/t gold over 113.2 meters
including:
1.05 g/t gold over 86.3 meters
including:
-2.10 g/t gold over 2.7 meters -5.54 g/t gold over 3.1 meters
-5.64 g/t gold over 1.5 meters -9.47 g/t gold over 1.5 meters
-1.90 g/t gold over 1.5 meters -2.41 g/t gold over 2.6 meters
-1.42 g/t gold over 2.29 meters
-1.38 g/t gold over 3.81 meters
5
Premium further reported on October 7th, 2014 that the company had drilled fifteen
holes (15) which have yet to be updated and included in the 2013 published MRE.
Three holes of the fifteen holes targeted the gold zone located at roughly two hundred
meters depth and twelve holes targeted a shallower gold zone at roughly 40 -100
meters in depth. “The deposit remains open in all directions for continued
expansion.”
Metallurgy
Premium historically announced and it was further reported in the NI 43 -101 that
“Results indicated that gold and silver reacted very well to cyanidation with excellent
recoveries as follows:
- Gold 75-93%
Silver 17-81%
Areas of uncertainty that may materially impact the MRE include:
Commodity price assumptions
Assumptions that all required permits will be forthcoming
Pit slope angles
Metal recovery assumptions
Mining and process cost assumptions
There are no other known factors or issues that materially affect the estimate other
than normal risks faced by mining projects in terms of environmental, permitting,
taxation, socio-economic, marketing, and political factors. The Company is not aware
of any known legal or title issues that would materially affect the MRE.
About Premium Exploration
Premium Exploration Inc. ( “Premium”), a BC reporting issuer that owns a 100%
interest in the Friday Gold Project located at Orogrande, approximately 16 km south-
southwest of Elk City in the Orogrande Mining District, Idaho, USA.
6
Giant Mining is a 20% Shareholder in Premium Exploration.
Qualified Person
The scientific and technical information contained in this news release has been
reviewed and approved by Lawrence Segerstrom, a consulting geologist who is a
"Qualified Person" as such term is defined under National Instrument 43-101 -
Standards of Disclosure for Mineral Projects ("NI 43- 101").
About Giant Mining Corp.
Giant Mining Corp. is engaged in the identification, review and acquisition of latter
stage copper and copper/silver/gold assets. This is in direct response to the growing
worldwide demand and lack of supply for precious metals fueled by the Green New
Deal in the US a nd most other developed nations with similar programs aimed at
addressing climate change. Such programs are heavily reliant on silver, gold and
especially copper to produce Electric Vehicles and other renewable power sources, as
well as building infrastructure to provide clean and affordable electricity.
The flagship project is the Majuba Hill copper, silver and gold District located 156
miles (251 km) outside Reno, Nevada, USA. Management has been mandated to
focus on safe, mining friendly jurisdictions w here government regulations are
supportive of mining operations.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is
defined in the policies of the Canadian Securities Exchange) accepts responsibility for
the adequacy or accuracy of this release.
On Behalf of the Board of Giant Mining Corp.
“David Greenway”
David C. Greenway
President & CEO
For further information, please contact:
P: 1 (604) 499-6791
VISIT OUR WEBSITE FOR MORE DETAILS
www.giantminingcorp.com
LIKE AND FOLLOW
Instagram, Facebook, Twitter, LinkedIn
7
DOWNLOAD INVESTOR INFORMATION
Click Here
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking"
statements. Forward looking statements are statements that are not historical facts
and are generally, but not always, identified by the words "expects", "plans",
"anticipates", "believes", "intends", "estimates", "projects", "potential" and similar
expressions, or that events or conditions "will", "would", "may", "could" or "should"
occur. Although Giant Mining Corp. believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements
are not guarantees of future performance and actual results may differ materially
from those in forward looking statements. Forward looking statements are based on
the beliefs, estimates and opinions of Giant Mining Corp. management on the date
the statements are made. Except as required by law, Giant Mining Corp. undertakes
no obligation to update these forward -looking statements in the event that
management's beliefs, estimates or opinions, or other factors, should change.