Americas Bullion Files Updated Technical Report for Brewery Creek Project; Awards Permitting Contract
Press Release: Americas Bullion Royalty Corp. – 1 hour 8 minutes ago
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HAYDEN, Idaho--(BUSINESS WIRE)--
Americas Bullion Royalty Corp. ( AMB.TO) (the “Company”) announces that further to its press release dated September 19, 2013, has filed a National Instrument 43-101 Technical Report detailing Indicated and Inferred Mineral Resource estimates on its Brewery Creek Project, located in Yukon, Canada. The Technical Report can be found under the Company’s profile on SEDAR at www.sedar.com.
The updated Mineral Resource Estimate represents a major increase in both grade and tonnes for oxide resources in all categories, compared to the previous 2012 estimate, while utilizing a higher cut-off grade based on a $1,250 gold price. The current Mineral Resource Estimate, as filed in the Technical Report and referenced in the September 19, 2013 news release, is shown below in Table 1.
Table 1: Brewery Creek Indicated & Inferred Resources
|
| | Brewery Creek Indicated & Inferred Resources |
|
|
|
| Indicated |
|
|
| Inferred |
|
|
|
| Tonnes |
|
| Au (g/t)
|
|
|
| Contained Au (ounces)
|
|
|
| Tonnes |
|
|
| Au (g/t)
|
|
|
| Contained Au
(ounces)
|
| | Oxide |
|
| 14,152,000 |
|
| 1.27 |
|
|
| 577,000 |
|
|
| 9,309,000 |
|
|
| 0.93 |
|
|
| 279,000 |
| | Sulfide |
|
| 3,459,000 |
|
| 1.28 |
|
|
| 142,000 |
|
|
| 12,408,000 |
|
|
| 1.37 |
|
|
| 546,000 |
| | Total |
|
| 17,611,000 |
|
| 1.27 |
|
|
| 719,000 |
|
|
| 21,717,000 |
|
|
| 1.18 |
|
|
| 825,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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| 1. The resource estimate includes fourteen separate deposits plus the historic Viceroy leach pad.
2. Each deposit had different gold capping thresholds based on statistical analysis. The average cutoff grade for oxide material is approximately 0.50 g/t Au and for sulfide material it is approximately 0.70 g/t Au.
3. Oxide resources for 10 of the deposits are pit constrained; refer to the September 19th, 2013 news release for detailed parameters.
4. Four deposits are not pit constrained because two, Classic and Lone Star, only consist of inferred mineralization and two, North Slope and Sleeman, were previously estimated and reported in the previous resource technical report (EBA, 2013).
5. A Gold price of $1,250/oz was used. Tonnes and contained ounces have been rounded to the nearest 1,000.
6. The effective date of this Mineral Resource Estimate is June 1st, 2013.
The Company also announces it has retained Access Consulting Group, a wholly-owned subsidiary of Alexco Resource Corp., to prepare a Project Proposal submission to the Yukon Environmental and Socio-Economic Assessment Board (YESAB) for Executive Committee review. Continuing to advance the project through the YESAB permitting process will further the Company’s objective of attracting a qualified operator as a joint venture partner.
The technical content of this news release has been reviewed and approved by Michael Maslowski BSc, CPG, the Company’s Chief Operating Officer and a Qualified Person as defined by National Instrument 43-101.
Americas Bullion Royalty Corp.
Americas Bullion Royalty Corp. invests in undervalued natural resource assets seeking to provide superior investment returns. Americas Bullion’s assets include royalty holdings across Mexico, Nevada, Wyoming, Oregon, and California; control of the Springer Tungsten Mine and Mill; the Taylor mill and Humboldt mill site in Nevada; the Brewery Creek project, and a portfolio of Yukon exploration properties. The Company continues to advance and monetize its holdings to optimize and realize asset values for its shareholders.
This press release uses the terms "indicated resources" and "inferred resources", which are calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. We advise investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. In addition, "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an Inferred resource exists, or is economically or legally minable.
Mineral Resources are not mineral reserves and do not demonstrate economic viability. The quantity and grade of inferred resources reported herein are uncertain in nature and exploration completed to date is insufficient to define these Mineral Resources as indicated or measured. There is no guarantee that further exploration will result in the inferred Mineral Resources being upgraded to an indicated or measured mineral resource category. There is no certainty that all or any part of the mineral resource will be converted to mineral reserves. Mineral Resources are not mineral reserves and may be materially affected by environmental, permitting, legal, socio-economic, marketing, political, or other factors. Quantity and grade are estimates and are rounded to reflect the fact that the resource estimate is an approximation.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and Americas Bullion’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Americas Bullion assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
To view this press release as a PDF, please click on the following link:
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Contact:
Americas Bullion Royalty Corp.
William M. Sheriff, Chairman & CEO
(208) 635-5415
info@aubullion.com
www.aubullion.com
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