Homestake Announces 40% Increase in Homestake Ridge Resource Estimate

Homestake Resource Corporation (TSXV:HSR,FWB:B6I) announced an approximate 40% increase for the Homestake Ridge project: Indicated: 124,000ozs Au, 939,000ozs Ag (141,000ozs AuEq) and Inferred: 911,000ozs Au, 20,366,000ozs Ag (1,226,000ozs AuEq).

As quoted in the press release:

Highlights from the 2013 Mineral Resource Estimate Update include:

• The identification of new high-grade grade resources at the South Reef deposit (139,000 ozs Au and 39,000 ozs Ag averaging 13.0g/t Au, 3.6g/t Ag), which remains open to the northwest.
• An updated and optimized model for the Main Homestake deposit. The current model successfully captured a higher-grade mineral resource at an equivalent cut-off grade when compared to the previous block model. This resulted in an increase in grade and overall contained gold ounces.
• The inclusion of new silver-enriched resources that were identified by drilling in 2011 at the Homestake Silver deposit. The geological model for the Homestake Silver deposit was updated from a 2-dimensional model into a new 3-dimensional model to be consistent with the modeling of the two other deposits on the property.

Click here to read the Homestake Resource Corporation (TSXV:HSR,FWB:B6I) press release

Click here to see the Homestake Resource Corporation (TSXV:HSR,FWB:B6I) profile.