Stock Symbol: SGF: TSX
SASKATOON, Dec. 21, 2015 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration and Development, Shore Gold Inc. ("Shore") is pleased to announce that the Technical Report documenting the Revised Mineral Resource Estimate (see SGF News Release dated November 9, 2015) for the Star – Orion South Diamond Project ("Technical Report") has been filed on SEDAR (www.sedar.com). This Technical Report has also been posted on the Shore website www.shoregold.com.
The scientific and technical information contained in the Technical Report has been prepared and verified by A.C.A. Howe International Limited ("Howe"), under the supervision of Mr. Daniel C. Leroux, M.Sc., P. Geo. and the Mineral Resource estimation methodology under the supervision of Peter Ravenscroft, FAusIMM, of Burgundy Mining Advisors Ltd., an independent mining consultant, both Qualified Persons ("QPs") within the meaning of National Instrument ("NI") 43-101 of the Canadian Securities Administrators.
The Revised Mineral Resource estimate will now be incorporated into a re-optimized open pit mine plan for the Project, which will include a re-evaluation of mineral reserves and an economic assessment based thereon. It is anticipated this work will be completed during 2016 and will result in an Updated Feasibility Study including a revised statement of Mineral Reserves for the Project, if warranted, and an economic assessment based thereon. Accordingly, the mineral resources/reserves and economic assessment disclosed prior to November 9, 2015 by Shore for the Star – Orion South Diamond Project should no longer be relied upon.
George Read, Senior Vice President of Exploration and Development, Professional Geoscientist in the Provinces of Saskatchewan and British Columbia and Mark Shimell, Project Manager, Professional Geoscientist in the Province of Saskatchewan, are the Company's "QPs" under the definition of NI 43-101 and are responsible for the contents of this press release.
The Project is located in central Saskatchewan some 60 kilometres east of the city of Prince Albert. The Project is in close proximity to established infrastructure, including paved highways and the electrical power grid, which provide significant advantages for future mine development.
Shore is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Exchange under the trading symbol "SGF".
SOURCE Shore Gold Inc.
For further information: [email protected] or (306) 664-2202, www.shoregold.com