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Operations
Operations

Buffalo Ankerite

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The 100% owned Buffalo Ankerite property is situated approximately 3.5 miles southeast of Timmins in northeastern Ontario and is part of the prolific Porcupine Gold Camp. Its 1,200 acres of land are easily accessible by highway and are located within two miles east of Goldcorp’s Dome Mine, where over 17 million ounces of gold have been produced to date. Buffalo Ankerite is adjacent to former producing mines: to the west the Aunor-Delnite Mines, which produced 3.4 million ounces of gold, and to the east the Paymaster Mines, which produced 1.2 million ounces of gold.

Buffalo Ankerite is a historic producer of 1,018,000 ounces of gold at average recovered grade of 6.51 grams per tonne (0.19 ounces per ton). A 4,000-foot deep production shaft on the property was the primary source of this production. Drilling in 2001-2002 by Placer Dome outlined a pit design between surface and 400 feet depth on the south limb of the fold. Historical work indicated additional potential on the property below the pit resource. Recent exploration by McEwen Mining also identified a high-grade zone of gold mineralization at approximately 4,000 feet depth.

Using a total of 98,522 metres of diamond core data from 311 drill holes, the Company completed in 2013 a NI 43-101 compliant resource estimate update on the project. Computed by 3D digital block modelling, the updated estimate allows for open pit design and optimization.

The 2013 digital resource estimate for Buffalo Ankerite includes a Whittle Pit optimization model.

Buffalo Ankerite
Open Pit Resource Estimate

at cut-off grade of 0.51 gpt Au

Indicated
Zone Tonnes Grade Gold
  (Mt) (gpt) (oz)
North 1.41 2.05 93,300
South 2.41 2.57 199,500
Total 3.82 2.37 292,800

 

Inferred
Zone Tonnes Grade Gold
  (Mt) (gpt) (oz)
North 0.22 2.24 16,200
South 2.52 2.33 187,100
Total 2.74 2.31 203,400
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(The numbers may not add due to rounding)

In addition to the open pit resource, an underground resource estimate was completed for the project in 2013:

Buffalo Ankerite Underground Resource Estimate at cut-off grade of 2.57 gpt Au
Indicated   Inferred
Zone Tonnes(Mt) Grade (gpt) Gold (oz)   Tonnes (Mt) Grade (gpt) Gold (oz)
North 1.62 5.10 267,200   0.92 4.18 124,100
South 1.65 4.39 233,000   1.89 4.01 243,000
Total 3.27 4.76 500,200   2.81 4.05 367,100
To view our Timmins resources, please click here.
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