Crocodile Gold Reports 2014 Year-End Mineral Reserves and Mineral Resources and Maintains Large Resource Base Supporting Future Production
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 03/31/15 -- Crocodile Gold Corp. ("Crocodile Gold" or the "Company") (TSX: CRK)(TSX: CRK.DB)(TSX: CRK.WT)(OTCQX: CROCF)(FRANKFURT: XGC) today announces its consolidated 2014 year-end Mineral Reserves and Mineral Resources. The Company's AIF and technical reports prepared in accordance with NI 43-101 supporting the 2014 Mineral Reserve and Mineral Resource estimates will be available under the Company's profile at .
2014 Highlights
Rodney Lamond, President and Chief Executive Officer commented: "In 2014, we delivered strong physical and financial results and achieved successful exploration results from drill programs at all of our operating mine sites. Our exploration programs drilled more than 110,000 metres to replace the ounces from record mining depletion and maintained our Mineral Reserve and Mineral Resource base of nearly 0.9 million ounces and 4.8 million ounces of gold respectively. This was a significant achievement given the challenging gold price environment, which also positions us well for 2015. In addition, we are extremely pleased with the positive exploration results from Stawell that enabled us to provide the operation's first updated Mineral Reserve and Mineral Resource report since 2012."
"Looking ahead, we have a clear objective to execute our sustainable mining model to replace the ounces mined per year, roughly between 205,000 to 220,000 ounces annually, through the conversion of resources to reserves while maintaining a consistent resource base."
Mineral Reserve Summary by Asset and Highlights:
Mineral Resources Summary by Asset and Highlights:
About Crocodile Gold
Crocodile Gold is a Canadian-listed gold mining and exploration company with three operating mines in Australia. The objective of Crocodile Gold is to continue to focus on the safe and profitable operating performance from its three operating mines, Fosterville and Stawell Gold Mines in the state of Victoria and Cosmo Gold Mine in the Northern Territory. Our primary goal of sustainable operating performance is achieved through building confidence in our mine plans, continuing with prudent cost management controls, and targeted exploration and resource development. Sustainable operating performance from our current assets is a critical step in supporting the future growth toward the Five Year Strategy of Crocodile Gold.
For additional information, please visit our website or follow us on Twitter (at)crocgold_crk or on Facebook at CrocodileGoldCorp.
Qualified Person
Mark Edwards, MAusIMM (CP), MAIG, General Manager Exploration and Business Development for Crocodile Gold, is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release.
Forward Looking Information
Certain information set forth in this press release contains "forward-looking statements", and "forward-looking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include the Company's expectations for future performance based on current drill results and past production, expected gold prices, and mineral resource estimates, and are based on Crocodile Gold's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "plans", and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Crocodile Gold's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: liabilities inherent in mine development and production; geological, mining and processing technical problems; Crocodile Gold's inability to obtain required mine licences, mine permits and regulatory approvals required in connection with mining and mineral processing operations; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and exchange rates; currency and interest rate fluctuations; various events that could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions; the demand for and availability of rail, port and other transportation services; the ability to secure adequate financing and management's ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Crocodile Gold undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Contacts:
Laura Lepore
Director, Investor Relations
Crocodile Gold Corp.
Tel: 416-847-1847
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Datum: 31.03.2015 - 11:01 Uhr
Sprache: Deutsch
News-ID 382271
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Mining & Metals
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