GoldMining Files Technical Report for Its Yarumalito Gold- Copper Project, Colombia
GoldMining Files Technical Report for Its Yarumalito Gold-
Copper Project, Colombia
VANCOUVER, BC,
June 16, 2020
/CNW/ -
GoldMining Inc. (the "
Company
" or "
GoldMining
")
(TSX: GOLD) (OTCQX: GLDLF) is
pleased to announce that further to its press release dated
May 5, 2020
, the Company has filed a National Instrument 43-101 (NI 43-101)
technical report ( the "Technical Report") for its Yarumalito Gold-Copper Project (the "Project" or "Yarumalito") located in the Departments
of Antioquia and Caldas,
Colombia
.
The Technical Report, dated effective
April 1, 2020
, is titled "Technical Report: Yarumalito Gold-Copper Property, Departments of
Antioquia and Caldas, Republic of
Colombia
". The Technical Report was authored by
Greg Z. Mosher
, M.Sc., P.Geo., of Global Mineral
Resource Services, who is a qualified persons within the meaning of NI 43-101, is independent of the Company and has reviewed and
approved the disclosure regarding the resource estimate for Yarumalito disclosed herein.
The Project is located approximately 75 km southwest of the city of
Medellin
in the Department of Antioquia in
Central Colombia
and
approximately 40 km south of GoldMining's La Mina Project. Yarumalito is host to porphyry and epithermal mineralization that were the
subject of a maiden mineral resource estimate using a cut-off grade of 0.5 g/t gold equivalent for pit constrained resources as documented
in the Technical Report (Table 1).
Table 1: Inferred resource statement
1
using a 0.5 g/t gold equivalent cut-off for the Yarumalito Gold-Copper Project,
Colombia
.
Mineral
Type
Tonnes
Grade
Contained Metal
Au
Cu
AuEq
Au
Cu
AuEq
g/t
%
g/t
Oz
Lbs
Oz
Oxide
9,057,000
0.54
0.09
0.66
156,000
17,283,000
192,000
Sulphide
57,214,000
0.59
0.09
0.71
1,074,000
111,979,000
1,310,000
Total
66,271,000
0.58
0.09
0.70
1,230,000
129,262,000
1,502,000
Table 1 Notes:
1.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves
.
The estimate of mineral resources may be
materially affected by environmental permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues.
2.
All quantities are rounded to the appropriate number of significant figures; consequently, sums may not add up due to rounding.
3.
Pit constrained resources with reasonable prospects of eventual economic extraction stated above a 0.50 g/t Au cut-off.
4.
Pit optimization is based on an assumed gold price of US$1,500/oz, copper price of US$2.70/lb, mining cost of US$2.00/t, processing cost of US$8.00/t and pit slope of 45°.
The Company notes that its press release dated
May 5, 2020
, reported 157,000 ounces Au (oxide), 1,085,000 ounces Au (sulphide) and
1,236,000 ounces Au (total) under contained metal for the inferred resource estimate disclosed therein. The corresponding amounts
disclosed herein and in the Technical Report have been adjusted by an immaterial amount since the date of such press release.
Readers should refer to the Technical Report, a copy of which is available under the Company's profile at
www.SEDAR.com
, for further
information regarding the resource estimate contained herein and the Project.
Qualified Persons
Paulo Pereira
, President of GoldMining Inc. has reviewed and approved the technical information contained in this news release. Mr.
Pereira holds a Bachelors degree in Geology from Universidade do Amazonas in
Brazil
, is a Qualified Person as defined in NI 43-101 and is
a member of the Association of Professional Geoscientists of
Ontario
.
About GoldMining Inc.
GoldMining Inc. is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas.
Through its disciplined acquisition strategy, GoldMining now controls a diversified portfolio of resource-stage gold and gold-copper projects
in
Canada
,
U.S.A.
,
Brazil
,
Colombia
and Peru. Additionally, GoldMining owns a 75% interest in the Rea Uranium Project, located in the
Western Athabasca
Basin of
Alberta, Canada
.
Forward-looking Statements
This document contains certain forward-looking statements that reflect the current views and/or expectations of GoldMining with respect
to its business and future events, including expectations and future plans respecting the Project and statements with respect to the details
of the mineral resource estimate. Forward-looking statements are based on the then-current expectations, beliefs, assumptions,
estimates and forecasts about the business and the markets in which GoldMining operates. Investors are cautioned that all forward-
looking statements involve risks and uncertainties, including: the inherent risks involved in the exploration and development of mineral
properties, the uncertainties involved in interpreting drill results and other exploration data, the potential for delays in exploration or
development activities, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or
mining results will not be consistent with GoldMiningꞌs expectations, accidents, equipment breakdowns, title and permitting matters,
labour disputes or other unanticipated difficulties with or interruptions in operations, fluctuating metal prices, unanticipated costs and
expenses, and uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration
programs on the Project. These risks, as well as others, including those set forth in GoldMiningꞌs Annual Information Form for the year
ended
November 30, 2019
, management's discussion and analysis for the three months ended
February 29, 2020
and other filings with
Canadian securities regulators, could cause actual results and events to vary significantly. Accordingly, readers should not place undue
reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material
factors or assumptions used to develop such forward looking information, will prove to be accurate. GoldMining does not undertake any
obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable
securities law.
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SOURCE
GoldMining Inc.
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%SEDAR: 00031036E
For further information:
GoldMining Inc., Amir Adnani, Chairman, Garnet Dawson, CEO, Telephone: (855) 630-1001, Email:
CO: GoldMining Inc.
CNW 08:30e 16-JUN-20