Mr. Eric Desaulniers reports
NOUVEAU MONDE ANNOUNCES A COMBINED MINERAL RESOURCE ESTIMATE OF 48.6 MT AT A GRADE OF 3.97% CG IN THE INDICATED CATEGORY AND 34.7 MT AT A GRADE OF 4.08% CG IN THE INFERRED CATEGORY
Nouveau Monde Mining Enterprises Inc. has released the results of a first mineral resource estimate, completed in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum standards on mineral resources and reserves, covering the West zone of the Tony block, Matawinie graphite property. The Matawinie project is located in the Saint-Michel-des-Saints area, about 130 kilometres north of Montreal, Que., Canada. The mineral resource estimate for the Southeast and Southwest zones was previously discussed in the news release dated Dec. 15, 2015.
MINERAL RESOURCE ESTIMATE
Mineral
resource
Mineralized zone category(2)(7)(8) Tonnage Grade(3)
(M) (% Cg)
West(5) Indicated 22.3 4.25
Inferred(4) 15.5 4.59
Southeast and Southwest(6) Indicated 26.3 3.73
Inferred(4) 19.2 3.67
Tony block -- total resource Indicated 48.6 3.97
Inferred(4) 34.7 4.08
(1) The mineral resources provided in this table were estimated using
current Canadian Institute of Mining, Metallurgy and Petroleum standards on
mineral resources and reserves, definitions and guidelines.
(2) Mineral resources that are not mineral reserves have not demonstrated
economic viability. Additional trenching and/or drilling will be required to
convert inferred and indicated mineral resources to measured mineral
resources.
(3) All analyses were performed by ALS Minerals Laboratories and delivered
as graphitic carbon, internal analytical code C-IR18.
(4) Inferred mineral resources represent material that is considered too
speculative to be included in economic evaluations. Additional trenching
and/or drilling will be required to convert inferred mineral resources to
indicated or measured mineral resources.
(5) New preliminary mineral resource estimate.
(6) Preliminary mineral resource estimate published in the Dec. 15, 2015,
news release.
(7) Mineral resources are stated at a cut-off of 2.5 per cent Cg.
(8) The mineral resource estimate is limited by a depth of 100 metres and
the exclusion of a 60 m buffer zone around the lakes providing a maximum pit
slope of 55 degrees.
The graphite mineral resource estimate presented here was prepared by Yvan Bussieres, PEng (Quebec), and Antoine Yassa, PGeo (Quebec and Ontario), both independent qualified persons. A technical report prepared in accordance with NI 43-101 guidelines will be filed on SEDAR within 45 days of this release.
West zone data sources and estimation methods
The mineral resource estimate on the West zone is based on 26 core drill holes totalling 4,364.9 metres and ranging in length from 68.1 m to 253.4 m (see press release dated Feb. 11, 2016). Samples collected from a 57 m long trench on the West zone (see press release dated Sept. 23, 2014) were also used in the process. In all, seven mineralized horizons encased in paragneiss units were interpreted and modelled from these data.
The block model for the West zone was developed with Geovia's GEMS software, using the ID(2) method of interpolation, as well as different search ellipses. The blocks used for the modelling are five m long by five m wide by five m high, and a single density value of 2.76 tonnes/cubic metre was used. The depth of the model was limited to 100 metres (or 435 m ASL). A cut-off grade of 2.5 per cent Cg was also applied to the model. These two limits are reflected in the constrained mineral resource estimate for the West zone, even though mineralization is known to be open at depth. This mineral resource estimate is not considered to be a mineral reserve estimate as an economic assessment has yet to be performed to demonstrate economic viability. The table lists the tonnage against various cut-off grades.
WEST ZONE GRAPHITE RESOURCE ESTIMATE USING VARIOUS CUT-OFF GRADES
Indicated category(3)
Graphite
Cut-off grade Tonnage(1) Grade content
(% Cg) (% Cg) (t)
5.00 3,645,000 5.45 198,630
3.00 21,240,000 4.32 918,680
2.75 21,885,000 4.28 937,210
2.50(2) 22,330,000 4.25 948,940
2.25 22,515,000 4.23 953,430
2.00 22,580,000 4.23 954,800
1.75 22,620,000 4.22 955,590
1.50 22,650,000 4.22 956,020
1.25 22,670,000 4.22 956,330
1.00 22,690,000 4.22 956,570
Inferred category(3)
Graphite
Cut-off grade Tonnage(1) Grade content
(% Cg) (% Cg) (t)
5.00 5,560,000 5.59 310,940
3.00 15,170,000 4.63 702,350
2.75 15,450,000 4.60 710,390
2.50(2) 15,530,000 4.59 712,600
2.25 15,550,000 4.59 713,080
2.00 15,560,000 4.58 713,310
1.75 15,575,000 4.58 713,560
1.50 15,615,000 4.57 714,230
1.25 15,625,000 4.57 714,330
1.00 15,625,000 4.57 714,330
(1) A single density of 2.76 t/cubic m was used in the model and
tonnage is rounded.
(2) A cut-off grade of 2.5 per cent Cg was used in the present
resource estimate.
(3) The mineral resource estimate model is limited to a depth of
100 metres.
Quality assurance/quality control
All quality control information on samples used to determine the mineral resource estimate presented here is available in the press releases referenced in the West zone data sources and estimation methods paragraph above.
The technical information pertaining to the mineral resource estimate in this news release was prepared by Yvan Bussieres, PEng, and Antoine Yassa, PGeo, independent qualified persons as defined by National Instrument 43-101.
This news release was reviewed by Antoine Cloutier, PGeo, chief geologist for Nouveau Monde and a qualified person under National Instrument 43-101.
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved.