VANCOUVER, Nov. 14, 2017 /CNW/ - Marlin Gold Mining
Ltd. (TSX-V: MLN) ("Marlin" or the "Company") announces that,
further to its September 15, 2017
press release, it has filed a current National Instrument 43-101
("NI 43-101") technical report (the "Technical Report") on the
Company's wholly owned Commonwealth silver and gold property in
Cochise County, Arizona (the
"Commonwealth Project"). The Technical Report provides the
following estimates for the Commonwealth Project at various cut-off
grades:
Cutoff
(gpt)
|
Volume
cu. M
|
Tonnage 000
tonnes
|
Gold
Equivalent
|
Gold
|
Silver
|
gpt
|
t.
oz.
|
gpt
|
t.
oz.
|
gpt
|
t.
oz.
|
Inverse Distance
2.5 Model In Pit Measured Resources
|
0.4
|
1,662,900
|
4,069
|
1.380
|
180,800
|
0.57
|
74,800
|
48.6
|
6,357,700
|
0.3
|
1,841,200
|
4,504
|
1.280
|
185,700
|
0.53
|
77,200
|
45.0
|
6,516,900
|
0.2
|
2,047,000
|
5,007
|
1.18
|
189,800
|
0.49
|
79,000
|
41.3
|
6,648,500
|
Inverse Distance
2.5 Model In Pit Indicated Resources
|
0.4
|
8,966,100
|
21,934
|
1.06
|
746,100
|
0.45
|
314,500
|
36.8
|
25,950,900
|
0.3
|
10,893,200
|
26,643
|
0.93
|
799,200
|
0.40
|
339,200
|
32.2
|
27,582,000
|
0.2
|
12,522,400
|
30,623
|
0.85
|
832,000
|
0.36
|
354,400
|
29.1
|
28,650,600
|
In Pit Measured
and Indicated Resources
|
0.4
|
10,629,100
|
26,003
|
1.11
|
926,900
|
0.47
|
389,300
|
38.6
|
32,308,700
|
0.3
|
12,734,400
|
31,147
|
0.98
|
984,900
|
0.42
|
416,400
|
34.1
|
34,098,900
|
0.2
|
14,569,400
|
35,630
|
0.89
|
1,021,700
|
0.38
|
433,500
|
30.8
|
35,299,100
|
All resources are stated above a 0.2 g/t gold equivalent
cut-off. Pit optimization is based on assumed gold and silver
prices of US$1,350/oz. and
US$22.50/oz., respectively and
mining, processing and general administrative costs of US$7.25 per tonne. Metallurgical recoveries for
gold and silver were assigned by lithologic unit. Gold
Equivalent is stated using a ratio of 60:1 and ounces calculated
using the following conversion rate: 1 troy ounce = 31.1035 grams.
Metallurgical recoveries are not accounted for in the gold
equivalent calculation.
For further information, please refer to the full text of the
Technical Report, a copy of which is available under the Company's
profile on SEDAR at www.sedar.com. As noted in the Company's
September 15, 2017 press release, the
Technical Report does not include an economic analysis and is not a
preliminary economic assessment within the meaning of NI
43-101. The Technical Report does not include any mineral
resource estimate categorized as an inferred mineral resource, and
any historical inferred mineral resource estimate on the
Commonwealth Project should not be relied upon.
The Technical Report was prepared for the Company by Hard Rock
Consulting, LLC, is titled "National Instrument 43-101 Technical
Report: Updated Mineral Resource Estimate for the Commonwealth
Silver and Gold Project, Cochise County,
Arizona, USA," and is dated November
8, 2017. The mineral resource estimate set forth
therein and above is based on technical data and information as of
August 27, 2016 and the Technical
Report has an effective date of November 8,
2017.
The authors of the Technical Report, Zachary J. Black, Jennifer J. Brown, P.G., Jeffery Choquette, P.E.
and Deepak Malhotra, PhD, each of
whom is a qualified person within the meaning of NI 43-101 and is
independent of the Company, and they have reviewed and approved the
contents of this news release.
About Marlin
Marlin is a growth-oriented gold and silver mining company
focused on the Americas. The company owns three properties
located in Mexico and the
USA and a portfolio of
royalties. Marlin's priority is to profitably operate
its La Trinidad Mine, conduct further exploration on its other
projects and enhance shareholder value through the growth of
its wholly owned subsidiary, Sailfish Royalty Corp. Marlin is
backed by a well-funded investor with a successful track record in
the resources sector. The La Trinidad Mine in Sinaloa, Mexico declared commercial production
on November 1, 2014 and is one of the
highest-grade open pit heap leach gold mines in Mexico.
Cautionary Note
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 estimated will be converted into
Mineral Reserves.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as the term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary statement regarding
forward‐looking information
This news release contains 'forward-looking statements'
within the meaning of applicable securities laws. Forward-looking
statements are statements that are not historical facts and are
generally, but not always, identified by words such as the
following: expects, plans, anticipates, believes, intends,
estimates, projects, assumes, potential and similar expressions.
Forward-looking statements also include reference to events or
conditions that will, would, may, could or should occur, including,
without limitation, the intended use of proceeds. These
forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while based on management's
expectations and considered reasonable at the time they are made,
are inherently subject to a variety of risks and uncertainties
which could cause actual events or results to differ materially
from those reflected in the forward-looking statements, including,
without limitation: that the Company will complete preliminary
economic assessment for the Commonwealth Project on schedule;
uncertainties related to raising sufficient financing to fund
planned work in a timely manner and on acceptable terms; changes in
planned work resulting from logistical, technical or other factors;
the possibility that results of work will not fulfill
projections/expectations and realize the perceived potential of the
Company's projects; uncertainties involved in the interpretation of
drilling results and other tests and the estimation of gold
resources; risk of accidents, equipment breakdowns and labour
disputes or other unanticipated difficulties or interruptions; the
possibility of environmental issues at the Company's projects; the
possibility of cost overruns or unanticipated expenses in work
programs; the need to obtain permits and comply with environmental
laws and regulations and other government requirements;
fluctuations in the price of gold and other risks and
uncertainties, including those described in the Company's annual
management's discussion and analysis filed on SEDAR at
www.sedar.com. As a result, readers are cautioned not to
place undue reliance on these forward-looking statements. The
forward-looking statements contained in this news release are made
as of the date of this release. Unless required by law, Marlin has
no intention to and assumes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE Marlin Gold Mining Ltd.