TSX-V: VEIN | FSE: N071
TORONTO, Sept. 18, 2018 /CNW/ - Enforcer Gold Corp
("Enforcer" or the "Company") (TSX-V: VEIN; FSE: N071) along with
SOQUEM today announce the results of an amended and restated
mineral resource estimate on the Mop-II gold-copper deposit at the
Company's Roger project. Enforcer is earning a 50% interest in the
Roger project from project operator, SOQUEM.
Enforcer and SOQUEM were informed by Qualified Person, Christian
D'Amours of GéoPointCom, that an error had been discovered within
the drill hole database utilized in the mineral resource estimate
reported on August 28, 2018. The
error affected the data for several drill holes at the western ends
of the North and Main zones and lead to a misestimating of the
resource and induced an oversized conceptual pit shell. The effect
and scale of the error on the resource could not be determined
without a complete re-estimation; hence, Enforcer and SOQUEM
requested GéoPointCom to immediately correct the database and
recalculate the mineral resource.
The revised mineral resource estimate prepared by GéoPointCom
using a 0.45 g/t gold equivalent ("AuEq") cut off is 333,000 AuEq
oz in the Indicated category and 202,000 AuEq oz in the Inferred
category (Table 1). The impact of the amendment is a 12% decrease
in the total Indicated resources and a 45% decrease in the total
Inferred resources announced on August 28,
2018. Over 60% of the amended global resource is in the
higher confidence Indicated category.
Enforcer Gold President and CEO, Steve Roebuck, comments:
"This is a very unfortunate situation but one that is not of
Enforcer Gold's making. The database error that lead to the
amendment and restatement of the mineral resource is highly
regrettable, but fortunately, the reduction to the Inferred
resources is largely confined to the North Zone where drilling
coverage is limited. There is little impact on the Mop-II Main Zone
and the bulk of the Indicated resources. This restatement has no
impact on Enforcer and SOQUEM's commitment to advancing the Roger
project and building the mineral resource on the Mop-II deposit.
The Phase 2 drilling campaign is set to commence shortly and will
focus on increasing and upgrading the current resource base."
SOQUEM President, Olivier
Grondin, comments:
"It is an unfortunate situation that is out of SOQUEM's control,
since the database that was transmitted by SOQUEM to GéoPointCom
was in good standing. All parties involved are working together to
identify the reason for the error. The matter is taken very
seriously."
Table 1. Pit-Constrained Mineral Resource Estimate on the
Mop-II Gold-Copper Deposit
Category
|
AuEq
Cut-off
(g/t)
|
Tonnes
|
AuEq
(g/t)
|
Contained
AuEq
(oz)
|
Au
(g/t)
|
Contained
Au
(oz)
|
Indicated
|
0.45
|
10,900,000
|
0.95
|
333, 000
|
0.85
|
297,000
|
Inferred
|
0.45
|
6,569,000
|
0.96
|
202, 000
|
0.75
|
159,000
|
Notes to Table
1:
|
1.
|
The mineral resource
estimate was prepared with reference to the 2014 Canadian Institute
of Mining, Metallurgy and Petroleum (CIM) Definition Standards and
the 2003 CIM Best Practice Guidelines.
|
2.
|
The effective date of
the mineral resource estimate is July 4, 2018.
|
3.
|
The Qualified Person
for the estimate is Christian D'Amours, PGeo, of
GéoPointCom.
|
4.
|
Gold Equivalent
("AuEq") cut-off grade is based on 3-year average metal prices (to
July 2018) of US$1,240/oz gold, US$16.50/oz silver and US$3.00/lb
copper, USD/CAD exchange rate of 1.3129 using an open pit
constrained model.
|
5.
|
The resource is
supported by statistical analysis with good reproducibility of the
values and geostatistical validation of the coefficient of
variation and probability curves. High-grade values were not capped
but their numbers and area of influence was limited.
|
6.
|
A minimum thickness
of 10m was used for all sub-vertical zones and assays were
composited to 1.0m true width.
|
7.
|
A bulk density of
2.70 g/cm3 was used for the current estimate.
|
8.
|
Mineral resources are
reported as in-situ without dilution and material loss.
|
9.
|
Rounding may result
in apparent differences between tonnes, grade and contained metal
content.
|
10.
|
Mineral resources
that are not mineral reserves do not have demonstrated economic
viability.
|
Block model plans and sections are available in the Roger Map
Gallery.
Table 2. Pit-Constrained Indicated Mineral Resource
Sensitivity by Cut-Off Grades
AuEq
Cut-Off
(g/t)
|
Tonnes
(kt)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(%)
|
Au
(oz)
|
Ag
(oz)
|
Cu
(lb)
|
AuEq
(oz)
|
0.25
|
22,047
|
0.55
|
0.73
|
0.05
|
392,000
|
517,000
|
23,065,000
|
454,000
|
0.3
|
18,130
|
0.63
|
0.75
|
0.05
|
365,000
|
437,000
|
19,807,000
|
419,000
|
0.35
|
15,208
|
0.70
|
0.77
|
0.05
|
341,000
|
376,000
|
17,448,000
|
388,000
|
0.4
|
12,758
|
0.77
|
0.79
|
0.05
|
317,000
|
325,000
|
15,171,000
|
358,000
|
0.45
|
10,900
|
0.85
|
0.80
|
0.06
|
297,000
|
281,000
|
13,286,000
|
333,000
|
0.5
|
9,345
|
0.92
|
0.81
|
0.06
|
277,000
|
245,000
|
11,720,000
|
309,000
|
0.6
|
6,956
|
1.08
|
0.85
|
0.06
|
242,000
|
189,000
|
9,099,000
|
267,000
|
0.7
|
5,363
|
1.24
|
0.87
|
0.06
|
214,000
|
150,000
|
7,254,000
|
234,000
|
Table 3. Pit-Constrained Inferred Mineral Resource
Sensitivity by Cut-Off Grades
AuEq
Cut-Off
(g/t)
|
Tonnes
(kt)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(%)
|
Au
(oz)
|
Ag
(oz)
|
Cu
(lb)
|
AuEq
(oz)
|
0.25
|
14,917
|
0.48
|
1.03
|
0.08
|
230,000
|
492,000
|
25,608,000
|
298,000
|
0.3
|
12,757
|
0.53
|
1.05
|
0.08
|
216,000
|
429,000
|
23,512,000
|
278,000
|
0.35
|
10,751
|
0.58
|
1.05
|
0.09
|
200,000
|
361,000
|
21,500,000
|
256,000
|
0.4
|
8,196
|
0.67
|
1.08
|
0.11
|
175,000
|
284,000
|
18,949,000
|
224,000
|
0.45
|
6,569
|
0.75
|
1.18
|
0.11
|
159,000
|
250,000
|
16,551,000
|
202,000
|
0.5
|
5,501
|
0.83
|
1.17
|
0.12
|
147,000
|
207,000
|
14,851,000
|
185,000
|
0.6
|
3,723
|
1.02
|
1.10
|
0.15
|
122,000
|
131,000
|
12,250,000
|
153,000
|
0.7
|
2,629
|
1.24
|
1.13
|
0.17
|
105,000
|
95,000
|
10,107,000
|
130,000
|
Notes to Tables 2 and
3:
|
1.
|
Gold Equivalent
("AuEq") cut-off grade is based on 3-year average metal prices (to
July 2018) of US$1,240/oz gold, US$16.50/oz silver and US$3.00/lb
copper, USD/CAD exchange rate of 1.3129 using an open pit
constrained model.
|
Gold mineralization at the Mop-II deposit correlates with broad
alteration zones of sericitization and silicification that are
largely contained within a 2.2 km long by 0.4 km wide
quartz-feldspar porphyry intrusion. The mineralization is
homogenous, generally low grade and occurs over broad intervals. In
addition to the 58,000 m of diamond
drilling now completed on the Roger property, underground
exploration undertaken in 1988 included 1,177 m of development and over 1,000 m of chip sampling. In 2006, a NI 43-101
mineral resource estimate on the Mop-II deposit outlined 3.24 Mt of
Inferred Resources at an average grade of 1.61 g/t Au and 0.04% Cu
for a total 167,200 ounces of gold (Enforcer press release dated
March 5, 2018). Enforcer considers
the 2006 estimate as a historical resource estimate that has
relevance to the project; however, a qualified person for the
Company has not done sufficient work to classify the historical
estimate as a current mineral resource.
The 2018 mineral resource estimate was prepared by GéoPointCom
of Val-d'Or, Quebec utilizing
GeoticMine software and geostatistical analysis by Isatis software.
The estimate was calculated using ordinary kriging (OK) methodology
and the block model was constructed using block dimensions of 10 x
10 x 10 meters. The estimate incorporates information from 260
surface diamond drill holes and 23 underground diamond drill holes
for a total of 38,554 m of split/sawn and assayed core. The
wireframes solids were created using a 3D Delaunay triangulation
process instead of lines and tie lines projected on section. A
total of 13 sub-vertical wire frames were constructed considering a
minimum true thickness of 10 m and a minimum grade of 0.35 g/t
Au equivalent. This package of zones lies in a lower-grade envelope
of 1,880m x 1,110m x 460m
dimensions. Samples were composited inside the wire frames into
1 m true width composites. No capping was used at this step.
During the interpolation process, composite having a gold grade
higher than 30 g/t was limiting to influence only the cell located
15 m around them. Passed this
distance, their grade was limited to 30 g/t. A uniform density of
2.7 g/cm3 was used. The resources categories were defined
based on composite proximity using two consecutive search
ellipsoids passes. The cut-off grade calculation is based on the
following parameters:
Au price: US$1,240/oz gold
Ag price: US$16.50/oz silver
Cu price: US$3.00/lb copper
USD/CAD exchange rate: 1.3129
Mining cost: US$2.5/t
Mill recovery: 95%
Processing cost: US$20/t
A NI 43-101 technical report to support the disclosure of the
mineral resource estimate is being prepared by Consortium Geologica
Groupe-Conseil Inc. of Val-D'Or,
Québec and will be filed on SEDAR (www.sedar.com) by October 12, 2018.
Qualified Persons
Enforcer's VP Exploration, Antoine
Fournier, PGeo, and Christian D'Amours, PGeo, of
GéoPointCom, are both Qualified Persons as defined by National
Instrument 43-101 and have reviewed and approved the content of
this news release.
QAQC
The 2018 Phase 1 drilling program was managed by project
operator, SOQUEM, utilizing standard industry procedures and
protocols and following a formal quality assurance and quality
control (QAQC) program. Further details of the drilling QAQC
program are provided in the Company's June
20, 2018 press release. As project operator, SOQUEM
maintains the entire drilling database for the Roger project.
Enforcer employs its own QAQC protocol that includes reviewing and
verifying the accuracy of the information it receives from SOQUEM.
Details of Enforcer's QAQC program is available on the Enforcer
website at: Roger QAQC.
About SOQUEM
SOQUEM Inc., a subsidiary of Ressources Québec, is a leading
player in mineral exploration with its mission to explore, discover
and develop mining properties in Quebec. SOQUEM has participated in more than
350 exploration projects and contributed to major discoveries of
gold, diamonds, lithium and other mineral commodities in
Quebec.
About Enforcer Gold Corp
Enforcer Gold Corp is a Canadian-based mineral exploration
company and is earning a 50% interest in the advanced-stage Roger
project from SOQUEM. Roger hosts the Mop-II gold-copper deposit
located 5 km from the historic mining center of Chibougamau, Quebec. Enforcer also holds a
100% interest in the Waswanipi
gold project located 125 km west of Chibougamau. Both projects are situated within
the prolific Abitibi greenstone belt, which has produced over
180 M oz. of gold and over
450 M tonnes of copper-zinc ore since
the early 1900s.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
This news release contains "forward-looking statements" that are
based on expectations, estimates, projections and interpretations
as at the date of this news release. Forward-looking statements are
frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate",
"suggest", "indicate" and other similar words or statements that
certain events or conditions "may" or "will" occur, and include,
without limitation, statements regarding the Company's plans with
respect to the exploration of its Roger project, the exploration
potential and analogous deposit potential of the Roger project and
the timing of the Company's exploration programs. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such risks
and other factors may include, but are not limited to, the results
of exploration activities; the ability of the Company to complete
further exploration activities; the ability of the Company to
complete transactions on terms announced; timing and availability
of external financing on acceptable terms and those risk factors
outlined in the Company's Management Discussion and Analysis as
filed on SEDAR. Enforcer Gold does not undertake to update any
forward-looking information except in accordance with applicable
securities laws.
SOURCE Enforcer Gold