(Kitco News) - Augusta Gold (TSX: G) today announced the results of its mineral resource estimate at the Reward gold project located in Nevada, USA.
According to a press-release, at Reward, measured and indicated mineral resources amounted to 426,700 oz gold grading 0.75 g/t gold and inferred mineral resources amounted to 27,100 oz gold grading 0.68 g/t gold.
The company said that Reward is fully permitted, low-risk heap leach project with ample water rights and sufficient water supply in place, adding that closing of the company's acquisition of the Reward project is expected imminently.
Augusta also noted that Reward and Bullfrog combined measured and indicated mineral resources amounted to 1,635,990 oz gold grading 0.59 g/t gold and combined inferred mineral resources amounted to 285,000 oz gold grading 0.50 g/t gold.
President and CEO Don Taylor commented, "Reward is a fully permitted, low-risk heap leach project located in a top mining jurisdiction. The recently completed pit constrained resource is indicative of what we can expect in terms of production from the property.
“In tandem with our work at Reward we will be completing the required studies for a Mine Plan of Operations for the Bullfrog project scheduled for submission to the regulatory agencies by H1 2023 requesting permits to begin mining operations. It is anticipated that Reward will be the first production in the district followed by the larger planned production from Bullfrog."
The company also said that Reward and Bullfrog projects are strategically located just seven miles apart in the prolific Walker Lane district in Nevada, an area very active by junior and senior gold companies involved in exploration, development, and asset consolidation.
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