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.
