BRITISH COLUMBIA – According to the latest 43-101 report, New Carolin Gold Corp. of White Rock, BC, estimates that there is a total of 691,540 oz of gold in the inferred resource at its Ladner gold project near Hope. The gold occurs in the former Carolin mine, McMaster zone and the tailings impoundment.
Resources are classified as inferred in the Carolin mine and McMaster zone, both of which have open pit potential. The Carolin mine resource is 12.35 million tonnes averaging 1.5 g/t Au at a cut-off grade of 0.5 g/t. The McMaster zone includes 3.38 million tonnes at 0.69 g/t Au. Both targets are open in all directions.
The tailings area has been the subject of a positive preliminary economic assessment that put indicated resources at 445,378 tonnes grading 1.83 g/t Au at a 1.00 g/t cut-off. The inferred resource is 93,304 tonnes at 1.85 g/t. The tails contain as much as 28,700 oz of gold, and New Carolin hopes to retreat the material to recover as much as possible.
The company will continue drilling at the Ladner project this year and plans to conduct a preliminary economic assessment later this year. Please see NewCarolinGold.com for details.