Canadian Mining Journal

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GOLD: Treasury Metals updates Goliath resources



Treasury Metals has updated the resource estimate at the Goliath gold project for the first time since 2015. (Image: Treasury Metals)

ONTARIO – Treasury Metals  of Toronto has updated the mineral resources at its Goliath gold project 20 km east of Dryden. P&E Mining Consultants prepared the estimate, the first update since 2015.

The Goliath project has resources that are both pit constrained and outside the planned open pit. The constrained measured and indicated portion is 12.6 million tonnes. Using a cut-off grade of 0.04 g/t gold equivalent, these resources grade 1.40 g/t gold and 5.70 g/t silver, containing 569,100 oz. of gold and 2.3 million oz. of silver. There are also 595,000 inferred tonnes grading 1.05 g/t gold and 2.60 g/t silver.

Outside the pit the measured and indicated resource is 3.6 million tonnes grading 5.39 g/t gold and 2.60 g/t silver, using a cut-off grade of 1.9 g/t gold equivalent. There are 622,600 oz. of contained gold and 2.0 million oz. of contained silver. The inferred portion is 1.4 million tonnes at 4.43 g/t gold and 11.4 g/t silver.

The total measured and indicated resource at Goliath is 16.2 million tonnes at 2.29 g/t gold and 8.2 g/t silver, containing 1.2 million oz. of gold equivalent. The total inferred resource is 2.0 million tonnes at 3.43 g/t gold and 8.8 g/t silver, containing 226,700 g/t gold equivalent.

More information about the Goliath gold project is posted at www.TreasuryMetals.com.