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October 22, 2013
“We are consistently pleased with the drill results we’ve received from our infill drilling at Umwelt.” said Rob Pease President & CEO “Results continue to demonstrate the high-grade nature of the deposit as well as improve overall confidence as we work to upgrade resources to the measured category. This year’s drilling will be included in updated remodelling and resource estimates of the deposits expected to be completed early in 2014. Although our 2013 field program is completed and our camps in Nunavut are now closed, we expect results and news from our 2013 drilling to continue until the end of the year.”
The Umwelt deposit is currently the largest of the Back River mineral resources and is believed to have significant potential for additional resources to depth. As described in the Back River Pre-feasibility study announced on October 9, 2013, Umwelt is sequenced to be the first open pit and the first underground deposit mined. Existing indicated mineral resources at Umwelt continue down plunge 1350 m to a depth greater than 600 m below surface.
In addition, inferred resources continue a further 250 m down plunge. There are also indications that the high grades typical of the G2 Zone mineralization at Umwelt (Hole 12GSE234 returning 10.31 g/t Au over 39.85 m reported on October 2, 2012) continue into the inferred block at depth.
Drilling on Umwelt in 2013 was focused on converting and upgrading resources in the proposed open pit over a strike of 300 m and to a depth of 305 m. Results from this drilling will be incorporated into the upcoming Feasibility Study (“FS”).
Results have now been received for all 52 holes completed in the Umwelt infill drilling program.
The table below highlights some of the results received in 2013.
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