VANCOUVER, BC, Sept. 23, 2021 /PRNewswire/ - GoldMining
Inc. (the "Company" or "GoldMining") (TSX: GOLD)
(NYSE American: GLDG) is pleased to announce the completion of
updated Mineral Resource estimates ("MREs") for four of the
most significant properties owned by the Company. The updates
included new pit constrained Mineral Resource estimates on each of
the 100% owned Titiribi, Whistler, La Mina and São Jorge properties
in addition to an amended technical report for the Company's
Yellowknife Gold project. The technical reports are available
for review under the Company's profile on SEDAR (www.sedar.com) and
on the Company's website (www.goldmining.com).
Alastair Still, CEO of
GoldMining, commented: "We are very pleased to have completed a
foundational de-risking exercise by updating Mineral Resource
estimates on four of our key properties. These properties,
combined with an amended Mineral Resource estimate on Yellowknife
Gold collectively represent approximately 84% of the Company's
total Measured and Indicated Mineral Resources of 16.24 million
gold equivalent ounces and approximately 74% of the Company's total
Inferred Mineral Resources of 16.17 million gold equivalent ounces
(see Table 1)."
Mr. Still continued: "Updating and modernizing the MREs on key
properties helps lay the foundation for the next stage of further
advancing the projects. We are currently progressing with
preliminary economic assessments ("PEAs") at our Yellowknife
Gold project in Northwest Territories,
Canada, São Jorge in Pará State, Brazil and La Mina in Antioquia, Colombia which we expect to have completed in
the next six months. We look forward to sharing results of the PEAs
and other activities as we continue to unlock value from our
extensive portfolio of assets within favourable mining
jurisdictions located entirely within the Americas."
Highlights:
Global Mineral Resources
Pursuant to the updated MREs, GoldMining's global aggregate of
Mineral Resources totals (see Table 1 for details):
- 16.24 million ounces gold equivalent in the Measured and
Indicated categories;
- 16.17 million ounces gold equivalent in the Inferred category;
and
- Metal prices used for gold equivalent calculations are
US$1,600 per ounce gold, US$21 per ounce silver, and US$3.25 per pound copper.
Titiribi, Antioquia, Colombia (see GoldMining news release dated
July 12, 2021)
- Measured and Indicated Mineral Resources of 5.54 million ounces
gold, and 1,061.2 million pounds of copper (434.6 million tonnes
grading 0.40 g/t gold and 0.11% copper) (see Table 1); and
- Inferred Mineral Resources of 3.15 million ounces gold and
212.6 million pounds of copper (241.9 million tonnes grading 0.41
g/t gold and 0.04% copper) (see Table 1).
La Mina, Antioquia, Colombia (see GoldMining news release dated
July 12, 2021)
- Indicated Mineral Resources of 0.66 million ounces gold, 1.60
million ounces of silver and 150.5 million pounds of copper (28.2
million tonnes grading 0.73 g/t gold, 1.76 g/t silver and 0.24%
copper) (see Table 1); and
- Inferred Mineral Resources of 0.29 million ounces gold, 0.77
million ounces silver and 81.2 million pounds of copper (13.6
million tonnes grading 0.65 g/t gold, 1.76 g/t silver and 0.27%
copper) (see Table 1).
Whistler, Alaska, USA
(see GoldMining news release dated June 21,
2021)
- Indicated Mineral Resources of 1.94 million ounces gold, 8.33
million ounces of silver and 422.0 million pounds of copper (118.2
million tonnes grading 0.51 g/t gold, 2.19 g/t silver and 0.16%
copper) (see Table 1); and
- Inferred Mineral Resources of 4.67 million ounces gold, 16.06
million ounces silver and 711.4 million pounds of copper (317.0
million tonnes grading 0.46 g/t gold, 1.58 g/t silver and 0.10%
copper) (see Table 1).
São Jorge, Pará State, Brazil (see GoldMining news release dated
June 1, 2021)
- Measured and Indicated Mineral Resources of 0.71 million ounces
gold (14.27 million tonnes grading 1.55 g/t gold) (see Table 1);
and
- Inferred Mineral Resources of 0.72 million ounces gold (17.58
million tonnes grading 1.27 g/t gold) (see Table 1);
Yellowknife, N.W.T.,
Canada (Effective date
March 1, 2019; Amended June 9, 2021)
- Indicated Mineral Resources of 1.06 million ounces gold (14.11
million tonnes grading 2.33 g/t gold) (see Table 1); and
- Inferred Mineral Resources of 0.74 million ounces gold (9.30
million tonnes grading 2.47 g/t gold) (see Table 1).
Table 1 – Global Mineral Resource
Estimates(1-3)
|
|
|
|
|
Deposit
|
Cut-off4
|
Tonnes
|
Grade
|
Contained
Metal
|
Gold
|
Silver
|
Copper
|
Gold
Eq
|
Gold
|
Silver
|
Copper
|
Gold
Eq
|
(g/t)
|
(Mt)
|
(g/t)
|
(g/t)
|
(%)
|
(g/t)
|
(Moz)
|
(Moz)
|
(Mlbs)
|
(Moz)
|
Measured
Resources
|
Titiribi5
|
0.30
|
85.00
|
0.39
|
--
|
0.15
|
0.62
|
1.06
|
--
|
285.6
|
1.69
|
Yellowknife6
|
0.5/1.5
|
1.18
|
2.12
|
--
|
--
|
2.12
|
0.08
|
--
|
--
|
0.08
|
Total
|
|
86.18
|
|
|
|
|
1.14
|
--
|
285.6
|
1.77
|
Indicated
Resources
|
Titiribi5
|
0.30
|
349.60
|
0.40
|
--
|
0.10
|
0.55
|
4.49
|
--
|
775.7
|
6.20
|
Yellowknife6
|
0.5/1.5
|
12.93
|
2.35
|
--
|
--
|
2.35
|
0.98
|
--
|
--
|
0.98
|
São
Jorge7
|
0.30
|
14.28
|
1.55
|
--
|
--
|
1.55
|
0.71
|
--
|
--
|
0.71
|
Cachoeira8
|
0.35
|
17.47
|
1.23
|
--
|
--
|
1.23
|
0.69
|
--
|
--
|
0.69
|
Whistler9
|
$10/t
$25/t
|
118.20
|
0.51
|
2.19
|
0.16
|
0.79
|
1.94
|
8.33
|
422.0
|
2.99
|
La
Mina10
|
0.25
|
28.25
|
0.73
|
1.76
|
0.24
|
1.09
|
0.66
|
1.60
|
150.5
|
0.99
|
Crucero11
|
0.40
|
30.65
|
1.01
|
--
|
--
|
1.01
|
0.99
|
--
|
--
|
0.99
|
Almaden12
|
0.30
|
43.47
|
0.65
|
--
|
--
|
0.65
|
0.91
|
--
|
--
|
0.91
|
Total
|
|
614.85
|
|
|
|
|
11.38
|
9.94
|
1,348.21
|
14.47
|
Measured and
Indicated Resources
|
Titiribi5
|
0.30
|
434.60
|
0.40
|
--
|
0.11
|
0.56
|
5.54
|
--
|
1,061.20
|
7.89
|
Yellowknife6
|
0.5/1.5
|
14.11
|
2.33
|
--
|
--
|
2.33
|
1.06
|
--
|
--
|
1.06
|
São Jorge7
|
0.30
|
14.28
|
1.55
|
--
|
--
|
1.55
|
0.71
|
--
|
--
|
0.71
|
Cachoeira8
|
0.35
|
17.47
|
1.23
|
--
|
--
|
1.23
|
0.69
|
--
|
--
|
0.69
|
Whistler9
|
$10/t
$25/t
|
118.20
|
0.51
|
2.19
|
0.16
|
0.79
|
1.94
|
8.33
|
422.0
|
2.99
|
La
Mina10
|
0.25
|
28.25
|
0.73
|
1.76
|
0.24
|
1.09
|
0.66
|
1.60
|
150.5
|
0.99
|
Crucero11
|
0.40
|
30.65
|
1.01
|
--
|
--
|
1.01
|
0.99
|
--
|
--
|
0.99
|
Almaden12
|
0.30
|
43.47
|
0.65
|
--
|
--
|
0.65
|
0.91
|
--
|
--
|
0.91
|
Total
|
|
701.03
|
|
|
|
|
12.52
|
9.94
|
1,633.8
|
16.24
|
Inferred
Resources
|
Titiribi5
|
0.30
|
241.90
|
0.41
|
--
|
0.04
|
0.47
|
3.16
|
--
|
212.6
|
3.62
|
Yellowknife6
|
0.5/1.5
|
9.30
|
2.47
|
--
|
--
|
2.47
|
0.74
|
--
|
--
|
0.74
|
São
Jorge7
|
0.30
|
17.58
|
1.27
|
--
|
--
|
1.27
|
0.72
|
--
|
--
|
0.72
|
Cachoeira8
|
0.35
|
15.67
|
1.07
|
--
|
--
|
1.07
|
0.54
|
--
|
--
|
0.54
|
Whistler9
|
$10/t
$25/t
|
316.98
|
0.46
|
1.58
|
0.10
|
0.63
|
4.67
|
16.06
|
711.4
|
6.45
|
La
Mina10
|
0.25
|
13.63
|
0.65
|
1.76
|
0.27
|
1.05
|
0.29
|
0.77
|
81.2
|
0.46
|
Crucero11
|
0.40
|
35.78
|
1.00
|
--
|
--
|
1.00
|
1.15
|
--
|
--
|
1.15
|
Almaden12
|
0.30
|
9.15
|
0.56
|
--
|
--
|
0.56
|
0.16
|
--
|
--
|
0.16
|
Boa
Vista13
|
0.50
|
8.47
|
1.23
|
--
|
--
|
1.23
|
0.34
|
--
|
--
|
0.34
|
Surubim14
|
0.30
|
19.44
|
0.81
|
--
|
--
|
0.81
|
0.50
|
--
|
--
|
0.50
|
Yarumalito15
|
0.50
|
66.27
|
0.58
|
--
|
0.09
|
0.70
|
1.23
|
--
|
129.3
|
1.50
|
Total
|
|
754.17
|
|
|
|
|
13.49
|
16.83
|
1,134.52
|
16.17
|
|
Notes to
Mineral Resource Estimates:
|
|
1.
|
For further
information regarding the above resource estimates and projects,
please refer to the technical reports identified below which are
available at www.sedar.com under GoldMining's SEDAR profile. The
estimate of mineral resources may be materially affected by
environmental permitting, legal, title, taxation, sociopolitical,
marketing or other relevant issues.
|
|
|
2.
|
The above global
resource estimate table is provided for informational purposes only
and is not intended to represent the viability of any project on a
standalone or global basis. The exploration and development of each
project, project geology and the assumptions and other factors
underlying each estimate, are not uniform and will vary from
project to project. Please refer to the technical report for each
respective project, as referenced herein, for detailed information
respecting each individual project.
|
|
|
3.
|
All quantities are
rounded to the appropriate number of significant figures;
consequently sums may not add up due to rounding.
|
|
|
4.
|
Cut-off grade is
based on g/t Au or g/t Au Eq. for all projects except for Whistler,
which is gold equivalent cut-off and is based on a NSR US$/t. When
two cut-off grades are listed for a project, the first refers to
the open pit portion of the resource and the second refers to the
underground portion.
|
|
|
5.
|
Notes for
Titiribi:
- Based on technical report titled "Technical
Report on the Titiribi Project, Department of Antioquia, Colombia"
with an effective date of June 14, 2021.
|
|
6.
|
Notes for
Yellowknife:
- Based on technical report titled "Independent
Technical Report Yellowknife Gold Project Northwest Territories,
Canada" with an effective date of March 1, 2019, and amended and
re-stated on June 9, 2021.
|
|
7.
|
Notes
for Sao Jorge:
- Based on technical report titled "São Jorge
Gold Project, Pará State, Brazil, Independent Technical Report on
Mineral Resources" with an effective date of May 31, 2021.
|
|
8.
|
Notes for
Cachoeira:
- Based on technical report titled
"Technical Report and Resource Estimate on the Cachoeira Property,
Pará State, Brazil" with an effective date of April 17, 2013 and
amended and re-stated October 2, 2013.
|
|
9.
|
Notes
for Whistler:
- Based on technical report titled "NI 43-101
Mineral Resource Estimate for the Whistler Project" with an
effective date of June 11, 2021.
|
|
10.
|
Notes for La
Mina:
- Based on technical report titled "NI 43-101
Technical Report, GoldMining Inc, La Mina Project, Antioquia,
Republic of Colombia" with an effective date of July 6, 2021.
|
|
11.
|
Notes for
Crucero:
- Based on technical report titled "Technical
Report on the Crucero Property, Carabaya Province, Peru" with an
effective date of December 20, 2017.
|
|
12.
|
Notes for
Almaden:
- Based on technical report titled "Technical
Report: Almaden Gold Property, Washington County, Idaho, USA" with
an effective date of April 1, 2020.
|
|
13.
|
Notes for Boa
Vista:
- Based on technical report titled "Technical
Report on the Boa Vista Project and Resource Estimate on the VG1
Prospect, Tapajos Area, Para State, Northern Brazil" with an
effective date of November 22, 2013.
|
|
14.
|
Notes for
Surubim:
- Based on technical report titled
"Technical Report on the Rio Novo Gold Project and Resource
Estimate on the Jau Prospect, Tapajos Area, Para State, Northern
Brazil" ("Surubim Project") with an effective date of November 22,
2013.
|
|
15.
|
Notes for
Yarumalito:
- Based on a technical report titled "Technical
Report: Yarumalito Gold-Copper Property, Departments of Antioquia
and Caldas, Republic of Colombia" with an effective date of April
1, 2020.
|
Qualified Person
Paulo Pereira, P. Geo., President
of GoldMining Inc. has supervised the preparation of this news
release and has reviewed and approved the scientific and technical
information contained herein. Mr. Pereira is a Qualified Persons as
defined in National Instrument 43-101 ("NI 43-101").
Notice to Readers
Mineral Resources that are not Mineral Reserves do not have
demonstrated economic viability. There is no certainty that any
part of the Mineral Resources estimated will be converted into a
Mineral Reserves estimate. Disclosure regarding Mineral
Resource estimates included herein have been prepared by the
Company in accordance with NI 43-101. NI 43-101 is a rule developed
by the Canadian Securities Administrators that establishes
standards for public disclosure by issuer of scientific and
technical information concerning mineral projects. NI 43-101
differs significantly from the disclosure requirements of the
United States Securities and Exchange Commission ("SEC")
generally applicable to U.S. companies subject to the SEC's
disclosure requirements. For example, the terms "Indicated Mineral
Resource" and "Inferred Mineral Resource" are defined in NI 43-101
by reference to the guidelines set out in the CIM Definition
Standards on Mineral Resources and Mineral Reserves. These
definitions differ from the definitions in the disclosure
requirements promulgated by the SEC. Accordingly, information
contained herein or in the Company's descriptions of its projects
may not be comparable to similar information made public by U.S.
companies reporting pursuant to SEC disclosure requirements.
About GoldMining Inc.
GoldMining Inc. is a public mineral exploration company focused
on the acquisition and development of gold assets in the Americas.
Through its disciplined acquisition strategy, GoldMining now
controls a diversified portfolio of resource-stage gold and
gold-copper projects in Canada,
U.S.A., Brazil, Colombia, and Peru.
Forward-looking Statements
This document contains certain forward-looking statements
that reflect the current views and/or expectations of GoldMining
with respect to its long-term strategy, proposed work and other
plans and expected completion of PEAs and other reports for its
projects. Forward-looking statements are based on the then-current
expectations, beliefs, assumptions, estimates and forecasts about
the business and the markets in which GoldMining operates.
Investors are cautioned that all forward-looking statements involve
risks and uncertainties, including: delays to plans caused by
restrictions and other future impacts of COVID-19 or any other
inability of the Company to meet expected timelines for planned
project activities, including the timing of proposed PEAs and work
programs; the inherent risks involved in the exploration and
development of mineral properties, fluctuating metal prices,
proposed studies may not confirm GoldMining's expectations for its
projects, unanticipated costs and expenses, risks related to
government and environmental regulation, social, permitting and
licensing matters, and uncertainties relating to the availability
and costs of financing needed in the future. These risks, as well
as others, including those set forth in GoldMiningꞌs Annual
Information Form for the year ended November
30, 2020, and other filings with Canadian securities
regulators and the U.S. Securities and Exchange Commission, could
cause actual results and events to vary significantly. Accordingly,
readers should not place undue reliance on forward-looking
statements and information. There can be no assurance that
forward-looking information, or the material factors or assumptions
used to develop such forward-looking information, will prove to be
accurate. The Company does not undertake any obligations to release
publicly any revisions for updating any voluntary forward-looking
statements, except as required by applicable securities
law.
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SOURCE GoldMining Inc.