New Gold Inc. (“New Gold” or the “Company”) (TSX and NYSE
American: NGD) announces drill results for the New Afton Mine
from an underground exploration program completed during the year
2019, which identifies gold and copper mineralization within the
newly defined East Extension zone located directly beneath the
Sub-level cave (SLC) and to the east of the planned C-zone block
cave (Figure 1). Results to date confirm the East Extension as a
300 x 40 metres in plan and 700 metres down dip target area (Figure
2). The zone has been subdivided based upon different styles of
alteration and mineralization in two distinct zones defined as
Upper and Lower East Extension, which appears to represent the
down-plunge extension of the Afton Pit, East Cave and SLC zone.
Upper East Extension encompasses the higher 250 metres of the area
with the Lower East Extension representing the down plunge
continuity of it. Both zones are open to the east.
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Figure 1: Mine footprint targets location
(Photo: Business Wire)
From June 2019, the company completed 13 holes totaling 7,160
metres in the East Extension zone. A follow up drilling program has
been designed for 2020 to define the extension of the
mineralization in this area and to delineate a Mineral Resource
that may be incorporated into the Company’s 2020 year end Mineral
Reserve and Mineral Resource update. A summary of the result
highlights for the East Extension are reported in the following
table.
Table 1: East Extension Drill Highlights
Drill Hole
From
(metres)
To
(metres)
Interval
(metres)
Estimated True Width (metres)
Gold
(g/t)
Copper
(%)
EA19-251
220
328
108
25.6
1.82
2.43
Includes
226
256
30
7.1
4.78
4.02
EA19-252
160
302
142
37.5
0.41
0.78
includes
186
220
34
9.0
0.38
1.29
292
300
8
2.1
1.10
1.67
EA19-253
148
242
94
34.0
0.91
1.04
includes
148
212
64
23.1
1.25
1.43
EA19-257
190
212
22
9.8
0.72
1.72
EA19-262
156
188
32
18.2
0.76
1.11
includes
174
184
10
5.7
2.03
2.41
EA19-263
292
366
74
38.7
1.68
2.24
Includes
296
314
18
9.4
2.02
3.35
Includes
330
348
18
9.4
3.25
3.29
EA19-265
258
358
100
41.4
1.28
2.37
Includes
268
286
18
7.5
5.08
4.92
Includes
318
344
26
10.8
0.53
3.32
The full drill hole results and additional information are also
enclosed in this news release.
About New Gold Inc. New Gold is a Canadian-focused
intermediate gold mining company with a portfolio of two core
producing assets in Canada, the Rainy River and New Afton Mines as
well as the 100% owned Blackwater development project. The Company
also operates the Cerro San Pedro Mine in Mexico (in reclamation).
New Gold’s vision is to build a leading diversified intermediate
gold company based in Canada that is committed to environment and
social responsibility. For further information on the Company,
visit www.newgold.com.
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this news release, including any
information relating to New Gold's future financial or operating
performance are "forward looking". All statements in this news
release, other than statements of historical fact, which address
events, results, outcomes or developments that New Gold expects to
occur are "forward-looking statements". Forward-looking statements
are statements that are not historical facts and are generally, but
not always, identified by the use of forward-looking terminology
such as "plans", "expects", "is expected", "budget", "scheduled",
"targeted", "estimates", "forecasts", "intends", "anticipates",
"projects", "potential", "believes" or variations of such words and
phrases or statements that certain actions, events or results
"may", "could", "would", "should", "might" or "will be taken",
"occur" or "be achieved" or the negative connotation of such terms.
Forward-looking statements in this news release include, among
others, statements with respect to: future drilling programs and
Mineral Reserve and Mineral Resource determinations for year-end
2020.
All forward-looking statements in this news release are based on
the opinions and estimates of management as of the date such
statements are made and are subject to important risk factors and
uncertainties, many of which are beyond New Gold's ability to
control or predict. Certain material assumptions regarding such
forward-looking statements are discussed in this news release, New
Gold's latest annual management's discussion and analysis
("MD&A"), Annual Information Form and Technical Reports filed
at www.sedar.com and on EDGAR at www.sec.gov. In addition to, and
subject to, such assumptions discussed in more detail elsewhere,
the forward-looking statements in this news release are also
subject to the following assumptions: (1) there being no
significant disruptions affecting New Gold's operations; (2)
political and legal developments in jurisdictions where New Gold
operates, or may in the future operate, being consistent with New
Gold's current expectations; (3) the accuracy of New Gold's current
mineral reserve and mineral resource estimates; (4) the exchange
rate between the Canadian dollar and U.S. dollar, and to a lesser
extent, the Mexican Peso, being approximately consistent with
current levels; (5) prices for diesel, natural gas, fuel oil,
electricity and other key supplies being approximately consistent
with current levels; (6) equipment, labour and materials costs
increasing on a basis consistent with New Gold's current
expectations; (7) arrangements with First Nations and other
Aboriginal groups in respect of the Rainy River, New Afton and
Blackwater being consistent with New Gold's current expectations;
(8) all required permits, licenses and authorizations being
obtained from the relevant governments and other relevant
stakeholders within the expected timelines and the absence of
material negative comments during the applicable regulatory
processes; and (9) metals and other commodity prices and exchange
rates being consistent with those estimated for the purposes of
2019 guidance.
Forward-looking statements are necessarily based on estimates
and assumptions that are inherently subject to known and unknown
risks, uncertainties and other factors that may cause actual
results, level of activity, performance or achievements to be
materially different from those expressed or implied by such
forward-looking statements. Such factors include, without
limitation: significant capital requirements and the availability
and management of capital resources; additional funding
requirements; price volatility in the spot and forward markets for
metals and other commodities; fluctuations in the international
currency markets and in the rates of exchange of the currencies of
Canada, the United States and, to a lesser extent, Mexico;
discrepancies between actual and estimated production, between
actual and estimated mineral reserves and mineral resources and
between actual and estimated metallurgical recoveries; risks
related to early production at the Rainy River Mine, including
failure of equipment, machinery, the process circuit or other
processes to perform as designed or intended; fluctuation in
treatment and refining charges; changes in national and local
government legislation in Canada, the United States and, to a
lesser extent, Mexico or any other country in which New Gold
currently or may in the future carry on business; taxation;
controls, regulations and political or economic developments in the
countries in which New Gold does or may carry on business; the
speculative nature of mineral exploration and development,
including the risks of obtaining and maintaining the validity and
enforceability of the necessary licenses and permits and complying
with the permitting requirements of each jurisdiction in which New
Gold operates, the lack of certainty with respect to foreign legal
systems, which may not be immune from the influence of political
pressure, corruption or other factors that are inconsistent with
the rule of law; the uncertainties inherent to current and future
legal challenges New Gold is or may become a party to; diminishing
quantities or grades of mineral reserves and mineral resources;
competition; loss of key employees; rising costs of labour,
supplies, fuel and equipment; actual results of current exploration
or reclamation activities; uncertainties inherent to mining
economic studies; changes in project parameters as plans continue
to be refined; accidents; labour disputes; defective title to
mineral claims or property or contests over claims to mineral
properties; unexpected delays and costs inherent to consulting and
accommodating rights of Indigenous groups; risks, uncertainties and
unanticipated delays associated with obtaining and maintaining
necessary licenses, permits and authorizations and complying with
permitting requirements. In addition, there are risks and hazards
associated with the business of mineral exploration, development
and mining, including environmental events and hazards, industrial
accidents, unusual or unexpected formations, pressures, cave-ins,
flooding and gold bullion losses and risks associated with a mine
with relatively limited history of commercial production, such as
Rainy River, (and the risk of inadequate insurance or inability to
obtain insurance to cover these risks) as well as "Risk Factors"
included in New Gold's Annual Information Form, MD&A and other
disclosure documents filed on and available at www.sedar.com and on
EDGAR at www.sec.gov. Forward-looking statements are not guarantees
of future performance, and actual results and future events could
materially differ from those anticipated in such statements. All of
the forward-looking statements contained in this news release are
qualified by these cautionary statements. New Gold expressly
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
events or otherwise, except in accordance with applicable
securities laws.
Technical Information The scientific and technical
information in this news release has been reviewed and approved by
Mr. Michele Della Libera, Director Exploration of New Gold. Mr.
Della Libera is a Professional Geoscientist (P.Geo.) and Practising
Member of the Engineers and Geoscientists of British Columbia, the
Association of Professional Geoscientists of Ontario and a
“Qualified Person” as defined under National Instrument 43-101. Mr.
Della Libera has verified the data disclosed in this news release,
including the exploration, analytical and testing data underlying
the information. His verification included a review of the
applicable assay databases and reviews of the assay certificates.
No limitations were imposed on Mr. Della Libera’s verification
process.
New Gold maintains a Quality Assurance / Quality Control
(“QA/QC”) program at its New Afton mine operation using industry
best practices and is consistent with the QA/QC protocols in use at
all of the company’s exploration and development projects. Key
elements of New Gold’s QA/QC program include chain of custody of
samples, regular insertion of certified reference standards and
blanks, and duplicate check assays. Drill core is sampled at
regular 2 metres intervals, halved and shipped in sealed bags to
Actlabs Laboratories in Kamloops, British Columbia. Additional
information regarding the company’s quality assurance processes is
set out in the March 25, 2015 New Afton NI 43-101 Technical Report
available at www.sedar.com.
For additional technical information on New Gold’s material
properties, including a detailed breakdown of Mineral Reserves and
Mineral Resources by category, as well as key assumptions,
parameters and risks, refer to New Gold’s Annual Information Form
for the year ended December 31, 2018.
Cautionary Note to U.S. Readers Concerning Estimates of
Mineral Reserves and Mineral Resources Information concerning
the properties and operations of New Gold has been prepared in
accordance with Canadian standards under applicable Canadian
securities laws and may not be comparable to similar information
for United States companies. The terms "Mineral Resource",
"Measured Mineral Resource", "Indicated Mineral Resource" and
"Inferred Mineral Resource" used in this news release are Canadian
mining terms as defined in the Canadian Institute of Mining,
Metallurgy and Petroleum ("CIM") Definition Standards for Mineral
Resources and Mineral Reserves adopted by CIM Council on May 10,
2014 and incorporated by reference in National Instrument 43-101.
While the terms "Mineral Resource", "Measured Mineral Resource",
"Indicated Mineral Resource" and "Inferred Mineral Resource" are
recognized and required by Canadian securities regulations, they
are not defined terms under standards of the United States
Securities and Exchange Commission. As such, certain information
contained in this news release concerning descriptions of
mineralization and mineral resources under Canadian standards is
not comparable to similar information made public by United States
companies subject to the reporting and disclosure requirements of
the United States Securities and Exchange Commission.
An "Inferred Mineral Resource" has a great amount of uncertainty
as to its existence and as to its economic and legal feasibility.
Under Canadian rules, estimates of inferred mineral resources may
not form the basis of feasibility or pre-feasibility studies. It
cannot be assumed that all or any part of an "Inferred Mineral
Resource" will ever be upgraded to a higher confidence category.
Readers are cautioned not to assume that all or any part of an
"Inferred Mineral Resource" exists or is economically or legally
mineable.
Under United States standards, mineralization may not be
classified as a "Reserve" unless the determination has been made
that the mineralization could be economically and legally produced
or extracted at the time the reserve estimation is made. Readers
are cautioned not to assume that all or any part of the measured or
indicated mineral resources will ever be converted into mineral
reserves. In addition, the definitions of "Proven Mineral Reserves"
and "Probable Mineral Reserves" under CIM standards differ in
certain respects from the standards of the United States Securities
and Exchange Commission.
Complete Drill Assay Summary
Drill Hole
From
(metres)
To
(metres)
Interval
(metres)
Estimated True Width (metres)
Gold
(g/t)
Copper
(%)
EA19-251
2
220
218
NA
0.02
0.05
East Ext
220
328
108
25.6
1.82
2.43
includes
226
256
30
7.1
4.78
4.02
328
394
66
NA
0.04
0.03
394
468
74
NA
0.12
0.12
468
532
64
NA
0.04
0.04
532
540
8
NA
0.53
0.26
540
610
70
NA
0.02
0.01
610
638
28
NA
0.34
0.26
638
718.41
80.41
NA
0.03
0.02
EA19-252
0.16
160
159.84
NA
0.01
0.03
East Ext
160
302
142
37.5
0.41
0.78
includes
186
220
34
9.0
0.38
1.29
includes
292
300
8
2.1
1.10
1.67
302
712
410
NA
0.04
0.03
712
726
14
3.7
0.98
0.59
726
765.65
39.65
NA
0.05
0.03
EA19-253
0.13
148
147.87
NA
0.01
0.02
East Ext
148
242
94
34.0
0.91
1.04
includes
148
212
64
23.1
1.25
1.43
242
266
24
NA
0.11
0.26
266
370
104
NA
0.04
0.07
370
382
12
NA
0.29
0.32
382
484
102
NA
0.12
0.05
484
487.07
3.07
NA
0.69
0.09
EA19-255
2.44
484
481.56
NA
0.01
0.01
East Ext
484
544
60
NA
0.09
0.09
544
596
52
NA
0.21
0.26
596
668
72
NA
0.08
0.03
668
684
16
3.5
0.51
0.34
684
702
18
NA
0.00
0.01
702
742
40
8.8
0.43
0.42
742
786
44
NA
0.02
0.04
786
830
44
9.7
0.67
0.54
830
864
34
NA
0.01
0.02
864
874
10
2.2
0.77
0.85
874
877.21
3.21
NA
0.02
0.03
EA19-257
0.75
190
189.25
NA
0.01
0.02
East Ext
190
212
22
9.8
0.72
1.72
212
398.37
186.37
NA
0.01
0.03
EA19-258
0.28
280
279.72
NA
0.01
0.01
East Ext
280
300
20
NA
0.13
0.33
300
401.42
101.42
NA
0.02
0.97
EA19-259
0.47
178
177.53
NA
0.01
0.01
East Ext
178
264
86
NA
0.03
0.11
264
413.61
149.61
NA
0.01
0.03
EA19-260
2
390
388
NA
0.02
0.03
East Ext
390
398
8
NA
0.20
0.30
398
563.27
165.27
NA
0.03
0.01
EA19-261
0.94
428
427.06
NA
0.01
0.01
East Ext
428
438
10
NA
0.32
0.32
438
524
86
NA
0.05
0.05
524
548
24
9.2
0.41
0.39
548
588
40
NA
0.04
0.04
588
594
6
NA
0.55
0.30
594
658
64
NA
0.09
0.07
658
672
14
5.3
0.47
0.41
672
684.58
12.58
NA
0.00
0.00
EA19-262
1
156
155
NA
0.00
0.01
East Ext
156
188
32
18.2
0.76
1.11
includes
174
184
10
5.7
2.03
2.41
188
273.71
85.71
NA
0.01
0.02
EA19-263
0.9
292
291.1
NA
0.00
0.01
East Ext
292
366
74
38.7
1.68
2.24
includes
296
314
18
9.4
2.02
3.35
includes
330
348
18
9.4
3.25
3.29
366
450
84
NA
0.07
0.06
450
462
12
6.3
0.56
0.61
462
506.1
44.1
NA
0.07
0.05
EA19-264
0.8
148
147.2
NA
0.00
0.01
East Ext
148
222
74
36.8
0.38
0.64
includes
164
190
26
12.9
0.89
1.21
222
240
18
NA
0.03
0.08
240
254
14
NA
0.18
0.39
254
416.97
162.97
NA
0.01
0.02
EA19-265
0.27
258
257.73
NA
0.00
0.01
East Ext
258
358
100
41.4
1.28
2.37
includes
268
286
18
7.5
5.08
4.92
includes
318
344
26
10.8
0.53
3.32
358
448
90
NA
0.02
0.02
448
468
20
NA
0.27
0.15
468
516
48
NA
0.08
0.06
516
550
34
14.1
0.45
0.34
550
654.71
104.71
NA
0.03
0.02
Drill Holes Collar Coordinates
Drill Hole ID
UTM_ North (m)
UTM_East (m)
Elevation (masl)
Total Depth (m)
Azimuth (degrees)
Inclination
(degrees)
EA19-251
5614793
675416
-8
718
174.46
-76.30
EA19-252
5614794
675416
-7
766
158.73
-74.72
EA19-253
5614795
675416
-8
487
115.50
-68.86
EA19-255
5614892
675403
15
877
197.86
-77.35
EA19-257
5614893
675405
15
398
143.54
-63.49
EA19-258
5614893
675405
15
401
111.62
-60.41
EA19-259
5614894
675405
15
414
143.50
-49.16
EA19-260
5614893
675404
15
563
177.10
-72.36
EA19-261
5614892
675403
15
685
211.08
-67.58
EA19-262
5614893
675404
15
274
174.56
-55.27
EA19-263
5614892
675403
15
506
211.95
-58.49
EA19-264
5614893
675405
14
417
162.47
-60.23
EA19-265
5614892
675403
16
655
196.28
-65.58
Figure 1: Mine footprint targets location
Figure 2: East Extension targets location within the New Afton
deposit footprint
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200212005894/en/
Anne Day Vice President, Investor Relations Direct: +1
(416) 324-6003 Email: anne.day@newgold.com
Grafico Azioni New Gold (AMEX:NGD)
Storico
Da Mar 2024 a Apr 2024
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Da Apr 2023 a Apr 2024
