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Lions Gate Metals Inc. (TSXV:LGM) has filed a new 2012 Mineral Resource Update NI43-101 Report for the Poplar Deposit. Highlights of the Report include a marked increase in the size of the mineralized resource (contained copper metal increased by 47 percent), and the first inclusion of precious metals in estimation of the Poplar resource. At a 0.15% Cu cut-off, the Property has a new Indicated Resource of 171.3 million tonnes grading 0.28% Cu (1.06 billion pounds), 0.008% Mo, 0.08 g/t Au and 2.30 g/t Ag (0.40% CuEq), plus an Inferred Resource of 209.0 million tonnes grading 0.23% Cu (1.06 billion pounds), 0.004% Mo, 0.06 g/t Au and 3.62 g/t Ag (0.33% CuEq) as reported February 27, 2012.
Lions Gate Metals Inc. (TSXV:LGM) has filed a new 2012 Mineral Resource Update NI43-101 Report for the Poplar Deposit. Highlights of the Report include a marked increase in the size of the mineralized resource (contained copper metal increased by 47 percent), and the first inclusion of precious metals in estimation of the Poplar resource. At a 0.15% Cu cut-off, the Property has a new Indicated Resource of 171.3 million tonnes grading 0.28% Cu (1.06 billion pounds), 0.008% Mo, 0.08 g/t Au and 2.30 g/t Ag (0.40% CuEq), plus an Inferred Resource of 209.0 million tonnes grading 0.23% Cu (1.06 billion pounds), 0.004% Mo, 0.06 g/t Au and 3.62 g/t Ag (0.33% CuEq) as reported February 27, 2012.
As quoted in the press release:
The 2012 Mineral Resource Update on the Poplar Deposit, Omenica Mining Division, British Columbia, dated March 30, 2012 and authored by G.H. Giroux, MASc., P. Eng., of Giroux Consultants Ltd., can be viewed in its entirety on SEDAR or downloaded from the Company’swebsite.
The Report focuses on Lions Gate’s Phase Two drilling program on the Poplar Property (the “Property”). Highlights of the Report include a marked increase in the size of the mineralized resource (contained copper metal increased by 47 percent), and the first inclusion of precious metals in estimation of the Poplar resource. At a 0.15% Cu cut-off, the Property has a new Indicated Resource of 171.3 million tonnes grading 0.28% Cu (1.06 billion pounds), 0.008% Mo, 0.08 g/t Au and 2.30 g/t Ag (0.40% CuEq), plus an Inferred Resource of 209.0 million tonnes grading 0.23% Cu (1.06 billion pounds), 0.004% Mo, 0.06 g/t Au and 3.62 g/t Ag (0.33% CuEq) as reported February 27, 2012. Sample density is now sufficient that a significant portion of the resource has been upgraded from the Inferred to Indicated category.
Recommendations from the Report include drilling of holes dedicated to collecting samples for metallurgical testing, and re-drilling of holes selected from the historical drilling to confirm copper and molybdenum grades. The re-drilled (or twinned) holes will also provide greater sample density for gold and silver analyses. Additional holes will also be dedicated to further upgrading of resources from Inferred to Indicated and Measured categories, and to expanding the deposit laterally and at depth. The goal of this work is to provide Lions Gate with a mineralized resource that may be converted into a reportable Mineral Reserve.
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