Canadian Mining Journal

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GOLD: Blackwater measured and indicated numbers growing

BRITISH COLUMBIA – Vancouver-based New Gold reports an increase in measured and indicated resources at its Blackwater gold project 150 km south of Vanderhoof in the first three months of this year. The M&I resources now stand at 396.9...



BRITISH COLUMBIA – Vancouver-based New Gold reports an increase in measured and indicated resources at its Blackwater gold project 150 km south of Vanderhoof in the first three months of this year. The M&I resources now stand at 396.9 million tonnes, up 2% from Dec. 31, 2012. The material has an average grade of 0.74 g/t Au, 5.5 g/t Ag, for 9.5 million oz of gold and 70.1 million oz of silver. Contained ounces are up 6% for gold and 3% for silver.

In the measured category alone, the gold resource number jumped 44% to 3.9 million oz at 1.04 g/t Au.

The project also has 17.6 million inferred tonnes at 0.66 g/t Au and 4.0 g/t Ag containing 380,000 oz of gold and 2.3 million oz of silver.

The March 31, 2013, estimate includes an additional 22,220 metres of infill drilling in the southeast part of the deposit. A feasibility study is due in 2014.

New Gold’s was named Developer of the Year for its Blackwater project at the 10th annual BC Natural Resources Forum and Economic Summit held in January 2013. More information is posted at NewGold.com.