- Kinross Gold (K) has released an initial mineral resource estimate for its Great Bear Project in Ontario
- This mineral resource estimate included 2.737 million ounces of gold for its indicated resources and 2.290 million ounces of inferred
- Kinross Gold plans to target this higher-grade mineralization in the early years of potential production.
- Kinross is a Canadian-based gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile, Ghana and Canada
- Kinross Gold (K) is down 0.27 per cent, trading at $5.57 per share as of 2:12 p.m. EST.
Kinross Gold (K) has released an initial mineral resource estimate for its Great Bear Project in Ontario.
This mineral resource estimate included 2.737 million ounces of gold for its indicated resources and 2.290 million ounces of inferred. Further details are in the table below:
| | Tonnes (000’s) | Grade (Au g/t) | Ounces (000’s) | |
| Indicated | Open Pit | 33,110 | 2.57 | 2,737 |
| Inferred | Open Pit | 8,400 | 2.24 | 606 |
| Inferred | Underground | 11,636 | 4.50 | 1,684 |
| Total Inferred | | 20,037 | 3.56 | 2,290 |
Additionally, most of the resource is within a high-grade core in a subsection of the resource. Kinross Gold plans to target this higher-grade mineralization in the early years of potential production.
Last year, the company focused its drilling on the first 500 metres at the project’s LP Fault zone. This was done to better understand the upper portion of the deposit and support the initial mineral resource.
So far, over 250 kilometres have been drilled since last year, including 225 kilometres of exploration drilling. The company believes the fault zone will host a long-life, high-grade, open-pit and underground mine.
Also, Kinross Gold completed a confirmatory grade control program on the project. The program covered 1.5 million tonnes of the estimate and was used to verify the resource model. This provided the company more confidence in its resource, which it says is important given the visible gold seen in the deposit.
J. Paul Rollinson, President and CEO of Kinross Gold, commented,
“In just one year since acquiring the property, we have validated our belief for this to potentially become a world-class asset.”
Kinross is a Canadian-based gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile, Ghana and Canada.
Kinross Gold (K) is down 0.27 per cent, trading at $5.57 per share as of 2:12 p.m. EST.
