GTA Reports Gold Resource Estimate for the Afric Zone, Northshore Property
(Burlington, Ontario, June 10, 2014) GTA Mining and Resources Inc. (“GTA” or the “Company”) (“TSXV:GTA”) reports the results of an initial National Instrument 43-101 (“NI 43-101”) mineral resource estimate for the Afric Zone on the Northshore Property located near Schreiber, Ontario, Canada. The Property is located in Priske Township, approximately 200 km east of Thunder Bay, and 100 km west of Hemlo, Ontario.
HIGHLIGHTS INCLUDE: (using a cutoff grade of 0.50 grams gold per tonne)
- Indicated Category: 391,000 ounces gold in 12,360,000 tonnes at a grade of 0.99 g/t gold
- Inferred Category: 824,000 ounces gold in 29,580,000 tonnes at a grade of 0.87 g/t gold
- All resources are open for expansion
The mineral resource estimates have been prepared by Mr. Gary Giroux, MASc., P.Eng. of Giroux Consultants Ltd., Vancouver, British Columbia, and Mr. Doug Blanchflower, P. Geo., of Minorex Consulting Limited, Aldergrove, British Columbia. Both Messrs. Giroux and Blanchflower are qualified persons, and are independent of GTA.
The resource estimate is based on a drilling database including a total of 13,777 samples from 100 diamond drill holes, representing approximately 19,448 metres of drilling. The drilling includes surface holes completed from the 1990s through 2013. Of these, 53 drill holes totaling 13,000 metres were completed by GTA from 2011 to 2013. The mineral resource is constrained by wireframes of the favourable host lithologies. Both the indicated and inferred resources were calculated using the GTA holes, as well as the historical data, which included drill holes completed since 1990. Some of the historic holes were not under the same “QA – QC” scrutiny as the GTA drilling programs. Gold grades were interpolated into 10-by-10- by-5-metre blocks using a combination of ordinary kriging (“OK”) and indicator kriging (“IK”) estimation methods.
Further details of the resource estimate, including inferred and indicated categories, and using cut-off grades ranging from 0.20 to 1.20 g/t gold are summarized in the following tables.
