TSX: AUE AIM: AUE <\/p>\n
TORONTO , May 30, 2012 \/CNW\/ - Aureus Mining Inc. (TSX: AUE \/ AIM: AUE) (\"Aureus Mining\" or the \"Company\") is pleased to announce an upgrade to its NI43-101 compliant Mineral Resource at its 100% owned New Liberty gold project in Liberia (\"New Liberty\"). <\/p>\n
Highlights <\/p>\n
Commenting on the updated MRE for Aureus Mining, David Reading , President and Chief Executive Officer of Aureus Mining, said: <\/p>\n
\"We are very pleased to increase the total Mineral Resources at New Liberty to 1.14million ounces in Measured and Indicated Resources and 0.6 million ounces in Inferred Resources. As a result of the need to upgrade the reserves and complete the final metallurgical testwork, the Definitive Feasibility Study is now scheduled to be released in Q32012. Aureus will continue to define the size of the New Liberty ore body, which remains open at depth and along strike, through drilling one kilometre to the west of the planned open pit area.\" <\/p>\n
Increased Resource at the New Liberty project <\/p>\n
The increased MRE is accretive and updates the estimate announced on February2, 2012, which was undertaken by AMC Consultants Pty Ltd (\"AMC\") in accordance with the requirements of NI43-101. The MRE incorporates all the results from drilling as at April 4, 2012 , being 409 holes for 65,276 meters and was calculated on the basis of a 1.0g\/t cut-off grade. <\/p>\n
The total Resource estimate is comprised of 651,000 tonnes grading 4.77g\/t (for 100,000 ounces) in the Measured category, 9,145,000 tonnes grading 3.55g\/t (for 1,043,000 ounces) in the Indicated category, and 5,730,000 tonnes grading 3.2g\/t (for 593,000 ounces) in the Inferred category, as detailed in the table below. The Measured and Indicated Resources are located generally within the first 200 meters below surface. The Inferred Resource remains open at depth. <\/p>\n
Notes <\/p>\n
Resource estimation parameters <\/p>\n<\/p>\n
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Resources Increase at New Liberty - Update on Completion of Definitive Feasibility Study<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" TSX: AUE AIM: AUE TORONTO , May 30, 2012 \/CNW\/ - Aureus Mining Inc. Continue reading