First Mining Files Technical Report for the Positive Updated Preliminary Economic Assessment for the Springpole Gold Project

Pre-Tax NPV5% of US$1.23 billion, Pre-Tax IRR of 26% and AISC of US$552/oz
Average Annual Gold Production of 410,000 ounces in Years 2 through 9
 
VANCOUVER, BC / November 7, 2019 / First Mining Gold Corp. ("First Mining" or the "Company") (TSX:FF) (OTCQX:FFMGF) (FRANKFURT:FMG) is pleased to announce it has filed on SEDAR an independent Preliminary Economic Assessment ("PEA") technical report (the "Report") for its Springpole Gold Project ("Springpole" or the "Project") located in northwestern Ontario, Canada. The Report, which is entitled "Preliminary Economic Assessment Update for the Springpole Gold Project, Ontario, Canada" and has an effective date of September 1, 2019, was prepared by SRK Consulting (Canada) Inc. in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").
 
Springpole is one of the largest undeveloped open pit gold projects in North America. The updated PEA contemplates an open pit mine and milling operation and reflects updated metallurgical testwork that has demonstrated the potential for significantly improved recoveries. The PEA also reflects updated operating and capital cost estimates.
Read more: First Mining Gold Corp ( FF )

Skeena Delivers Robust Project Economics for Eskay Creek: After-Tax NPV5% of C$638M, 51% IRR and 1.2 Year Payback

VANCOUVER, BC / November 7, 2019 / Skeena Resources Limited (TSX.V:SKE) (OTCQX:SKREF) ("Skeena" or the "Company") is pleased to announce the initial Preliminary Economic Assessment ("PEA") completed by Ausenco Engineering Canada Inc. ("Ausenco"), supported by SRK Consulting (Canada), and AGP Mining Consultants, for the Eskay Creek gold-silver project ("Eskay Creek" or the "Project") located in the Golden Triangle of British Columbia.
 
Eskay Creek 2019 PEA Highlights:
 
High-grade open-pit averaging 3.23 g/t Au, 78 g/t Ag (4.17 g/t AuEq) (diluted)
After-tax NPV5% of C$638M (US$491M) and 51% IRR at US$1,325/oz Au and US$16/oz Ag
After-tax payback period of 1.2 years
Pre-production capital expenditures (CAPEX) of C$303M (US$233M)
After-tax NPV:CAPEX Ratio of 2.1:1
Life of mine ("LOM") average annual production of 236,000 oz Au, 5,812,000 oz Ag (306,000 oz AuEq)
Read more: Skeena Resources Limited ( SKE )

Asanko Gold Reports Q3 2019 Results

(All dollar amounts are United States dollars unless otherwise stated)
 
VANCOUVER, Nov. 7, 2019  - Asanko Gold Inc. ("Asanko" or the "Company") (TSX, NYSE American: AKG) reports third quarter ("Q3") 2019 operating and financial results for the Asanko Gold Mine ("AGM"), located in Ghana, West Africa. The AGM is a 50:50 joint venture ("JV") with Gold Fields Ltd (JSE, NYSE: GFI), which is managed and operated by Asanko. 
 
Q3 2019 Asanko Gold Mine Highlights (100% basis)
 
Record proceeds of $91.0 million generated from gold sales of 63,009 ounces at an average realized price of $1,443 per ounce
Record gold production of 62,440 ounces, on track to meet 2019 production guidance of 225,000 to 245,000 ounces
All-in sustaining cost1 ("AISC") of $1,179/oz, with 2019 guidance of $1,040 – $1,060/oz maintained as AISC are expected to drop in Q4 2019 with the completion of the Nkran Cut 2 pushback
Generated adjusted EBITDA1 of $25.7 million, operating cash flows of $45.6 million and free cash flow1 of $13.9 million
Net income after tax of $5.1 million, before any impairment adjustments that may arise from the ongoing work associated with the AGM Life of Mine ("LOM") plan, which was announced on August 15, 2019
Cash balance, receivables and gold on hand totalling $46.5 million
Concluded a revolving credit facility in the amount of $30 million with Rand Merchant Bank
Read more: Asanko Gold Inc ( AKG )

GoldMining to Acquire Yarumalito Gold Project in Colombia

Also News Release (C-NRG) Newrange Gold Corp
 
Highlights:
 
Yarumalito acquisition will further expand GoldMining's portfolio of gold-copper projects in the Mid Cauca Belt of central Colombia;
 
Total consideration will be comprised of $1,200,000, payable in common shares, and $200,000, payable in cash;
 
The Mid Cauca Belt is host to several multi-million ounce gold deposits including Buritica (Continental Gold Inc.), Titiribi and La Mina (GoldMining), Nuevo Chaquiro (Anglogold Ashanti Limited – B2Gold Corp.) and Marmato (Gran Colombia Gold Corp.);
 
Yarumalito hosts both bulk-tonnage, gold-copper porphyry and high-grade, intermediate sulphidation epithermal systems with six geophysical and geochemical targets identified on the Project;
 
18,540 m of historic drilling (55 holes) completed on the Project, primarily focused on two targets; and
 
Upon closing, GoldMining intends to engage an independent qualified person to verify historic exploration results and undertake a resource estimate assuming sufficient sampling density, which will be documented in an updated technical report.
Read more: GoldMining Inc ( GOLD )

Auryn Samples High-Grade Silver and Gold over 4.5 km(2) at Curibaya

VANCOUVER, BC /  October 28, 2019 / Auryn Resources Inc. (TSX:AUG)(NYSE American:AUG) ("Auryn" or the "Company") is pleased to announce initial rock sampling results from the newly acquired Sambalay and Salvador concessions at the Company's 11,000 hectare Curibaya project located in the Tacna province in Southern Peru. High-grade mineralization was sampled throughout a 1.5 kilometer by 3 kilometer quartz - sericite - pyrite alteration system with more than 20 samples above 200 g/t silver and multiple results over 1,500 g/t silver and up to 7.67 g/t gold (Figures 1 & 2). The project is situated in a copper porphyry belt that hosts some of Peru's largest porphyry deposits, including Freeport McMoRan's Cerro Verde deposit, Southern Copper's Cuajone and Toquepala deposits and Anglo American's Quellaveco deposit.
 
A Message from Michael Henrichsen, C.O.O & Chief Geologist:
 
"The Curibaya project sits in the world-class Southern Peru copper porphyry belt and is adjacent to the Incapuquio fault zone that is a control on the copper porphyry and epithermal deposits in the region. The observed high-grade precious metal mineralization makes for a compelling intermediate sulphidation epithermal target in addition to the strong potential for porphyry and skarn mineralization at shallow depths.
 
"We look forward to rapidly advancing the project to drill-stage through geophysical surveys and continued mapping as well as receiving additional surface results."
Read more: Auryn Resources ( AUG )

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