Silver Bull Resources (TSX: SVB) this morning released a maiden mineral resource estimate for its Beskauga copper-gold project, located in northeastern Kazakhstan. The estimate is reportedly based on an open-pit constrained resource.
The company has reported an indicated mineral resource of 2.33 million ounces of gold at 0.35 g/t, 476,100 tonnes of copper at 0.23%, and 7.25 million ounces of silver at 1.06 g/t. The property also has inferred resources of 1.56 million ounces of gold at 0.33 g/t gold, 220,500 tonnes of copper at 0.15%, and 4.82 million ounces of silver at 1.02 g/t.
The resource estimate compiled is based on 118 diamond drill holes, with a total drilling length of 45,606 metres which was conducted between 2007 and 2017 on the property. Depth of the drill holes varied between 150 metres and 815 metres.
Cut-offs used for the estimate were reported on a dollar basis, with the dollar per tonne cut-off being $5.70. Metal prices of $1,500 per ounce gold, $17.25 per ounce silver and $2.80 per pound copper were used.
With this being the maiden resource, the company has indicated that it intends to expand on the current resource estimate through further exploration of the property. Furthermore, the company has stated that it expects to have a “pipeline of projects and associated news” from the Beskauga Project and the wider region in 2021.
Silver Bull Resources last traded at $0.72 on the TSX.
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