Nordic Mines reports an updated Mineral Resource based on a sorting process
(Thomson Reuters ONE) -
The English text is an unofficial translation of the Swedish original, and in
the event of any discrepancies between the Swedish text and the English
translation, the Swedish text shall take precedence.
PRESS RELEASE, 17 May 2016
Nordic Mines AB (publ) ("Nordic Mines" or the "Company") is reporting an updated
Mineral Resource Estimate for the Laiva mine as of May 16, 2016.
The updated Mineral Resource Estimate is based upon recent ore sorting tests of
a small tonnage throughput from the Laiva deposit. The JORC Code 2012 compliant
Mineral Resource update is further based upon the Company's January 1, 2015
Mineral Reserve and Mineral Resource report using the January 1, 2015 pit shell
data and mining cut off grades as benchmarks but reporting from updated pit
shells based on updated costs and technical data as a result of the ore sorting
scenario test work results.
Using a USD 1,400 gold price (previous USD 1,510) and a cut off grade at 0.3 g/t
(previous 0.6 g/t), a reduction of 0.3 g/t due to the sorting, the Measured and
Indicated Mineral Resource is 24,320,000 tons (1.13 g/t), containing gold of
885,000 tr.oz. In addition, the Inferred Mineral Resource is 4,370,000 tons
(1.64 g/t), containing 231,000 tr.oz. This is a 13% increase in contained gold
(measured/indicated) compared to the previous resource statement. Using the same
gold price as in the previous model the increase in contained gold would be
around 25%.
Stockholm, 17 May 2016
Nordic Mines AB (publ)
For additional information, please contact:
D. Saradhi Rajan, CEO: +44 743 271 1564
Peter Kuiper, Head of Development, +46 70 567 6444
For more information about Nordic Mines, please visit; www.nordicmines.com
The information above has been made public in accordance with the Securities
Market Act and/or the Financial Instruments Trading Act. The information was
published at 08.00 a.m. (CET) on May 17, 2016.
Nordic Mines is a Nordic mining and exploration company. The Laiva mine in
Finland produced gold between 2011 and 2014. The deposit is among the largest in
the Nordic region. Nordic Mines is a member of SveMin and applies its reporting
regulations for public mining and exploration companies. The Nordic Mines share
has been admitted for trading on Nasdaq Stockholm's Small Cap list. Also refer
to www.nordicmines.com
Press release (PDF):
http://hugin.info/138647/R/2013042/745920.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Nordic Mines AB via GlobeNewswire
[HUG#2013042]
Unternehmensinformation / Kurzprofil:
Datum: 17.05.2016 - 08:00 Uhr
Sprache: Deutsch
News-ID 471528
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contact information:
Town:
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Kategorie:
Business News
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"Nordic Mines reports an updated Mineral Resource based on a sorting process"
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