Signal Gold updates mineral reserves for Stog’er Tight deposit at Point Rousse

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Signal Gold (TSX: SGNL) is filing a technical report for the Stog’er Tight deposit at the Point Rousse gold project in Newfoundland. The report is being filed to provide updated information for the Stog’er Tight deposit and is not filed as the result of a requirement of National Instrument 43-101.

The Stog’er Tight probable mineral reserve is 726,600 tonnes at an average diluted gold grade of 1.97 g/t and contains 46,100 oz. of gold. The reserve was calculated at a strip ratio of 7.9 to 1 waste tonnes to ore tonnes, based on a cut-off grade of 0.62 g/t gold and gold price of $1,460/oz.

The mineral reserve estimate is based on the resource estimate for the Stog’er Tight deposit with an effective date of Sept. 1, 2021. Under a conceptual 22-month life of mine, Stog’er Tight would produce approximately 40,100 oz. of gold based on an estimated average recovery rate of 87.0%. 

“As the company continues winding down current mining and milling activities at the Point Rousse operation, we continue to review strategic alternatives to maximize the value of its Newfoundland assets,” said Kevin Bullock, president and CEO, Signal Gold.