Dutch Gold Corp
Dutch Gold Corp announced an updated mineral resource estimate for a portion of the Basin Gulch Project, Montana. The project is in Granite County, Montana, about 19 road miles west of Philipsburg, Montana. The new mineral resource estimate, conducted by David Brown and Associates, has been disclosed in accordance with the definition standards and guidelines on mineral resources and mineral reserves of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in Canadian Securities Administrators National Instrument 43-101 (NI 43-101).
The estimate is for a mineralized area that was historically pattern drilled by 88 core and reverse circulation holes and sampled by a series of surface trenches to bedrock. This area is informally referred to as the “discovery block.” An additional more widely scattered 235 holes have been drilled on the property. While these additional holes also intersected gold mineralization, they were not drilled in sufficiently close spacing to project a gold resource.
The estimated gold mineralization volume for the discovery block is 633 million tons grading 0.012 ounce per ton (opt) gold, using a 0.0065opt cutoff, for a contained volume of approximately 7,600,000 ounces of gold. Within this mineralization is higher-grade volume of 108 million tons grading 0.026 opt gold, containing approximately 2,800,000 ounces of gold. The gold mineralization also contains locally significant associated silver mineralization that was not included in the estimates.
Additionally, based on numerous higher-grade gold intercepts that have not yet been evaluated, Dutch expects to define very significant areas of higher-grade mineralization with future drilling, both within the discovery zone and outside it. As step-out and fill-in drilling is conducted in the gold-mineralized areas intersected by the holes outside the discovery block, Dutch anticipates the discovery will grow.