Investor Presentaiton
Goldboro: 2021 Mineral Resource Estimate
SIGNAL
-GOLD-
Resource Type
Gold Cut-off (g/t
gold)
Category
Tonnes
November 2021 Mineral Resource based on:
Grade
(g/t gold)
Gold Troy Ounces
• 681 surface and underground drill holes
Measured
Indicated
7,680,000
2.76
7,988,000
2.89
681,000
741,000
• A total of 121,540 metres of diamond drilling, including 55,803 metres
have been conducted by the Company
Open Pit
0.45
Measured + Indicated
15,668,000
2.82
1,422,000
High quality Mineral Resource with Significant Growth
Potential
Inferred
975,000
2.11
66,000
•
Measured
1,576,000
7.45
377,000
Constrained open pits were designed using only Measured and
Indicated Resources
Indicated
4,350,000
5.59
782,000
•
Underground
2.40
Measured + Indicated
5,925,000
6.09
1,159,000
Inferred
2,206,000
5.89
418,000
•
Measured
9,255,000
3.56
1,058,000
0.45
Combined Open
Pit and
Indicated
12,338,000
3.84
1,523,000
Opportunity to target Inferred Resources adjacent to the constrained
open pits
Infill program from March 2022 demonstrates significant opportunity to
optimize the value of Goldboro, and 4,000 metre program to the west of
the Deposit recently completed
and
2.40
Measured + Indicated
21,593,000
3.72
2,581,000
Underground*
Inferred
3,181,000
4.73
484,000
* Combined Open Pit and Underground Mineral Resources; The Open Pit Mineral Resource is based on a 0.45 g/t gold cut-off grade, and the Underground Mineral Resource is based on 2.40 g/t gold cut-off grade.
Mineral Resource Estimate Notes
1.
Mineral Resources were prepared in accordance with NI 43-101 and the CIM Definition Standards for Mineral Resources and Mineral Reserves (2014) and the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (2019). Mineral Resources that are not mineral reserves do not have demonstrated economic
viability. This estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
Mineral Resources are inclusive of Mineral Reserves.
Open Pit Mineral Resources are reported at a cut-off grade of 0.45 g/t gold that is based on a gold price of C$2,000/oz (US$1,600/oz) and a metallurgical recovery factor of 89% around cut-off as calculated from ((GRADE-(0.0262*LN(GRADE)+0.0712))/GRADE* 100)-0.083.
Underground Mineral Resource is reported at a cut-off grade of 2.60 g/t gold that is based on a gold price of C$2,000/oz (US$1,600/oz) and a gold processing recovery factor of 97%.
2.
3.
4.
5.
Assays were variably capped on a wireframe-by-wireframe basis.
6.
Specific gravity was applied using weighted averages to each individual wireframe.
7.
Effective date of the Mineral Resource Estimate is November 15, 2021.
8.
All figures are rounded to reflect the relative accuracy of the estimates and totals may not add correctly.
9.
Excludes unclassified mineralization located within mined out areas.
10.
Reported from within a mineralization envelope accounting for mineral continuity.
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