Homestake Ridge comprises the 75 sq. km. northern half of the Company’s 163 sq. km. Kitsault Valley project located in the Golden Triangle of Northwest British Columbia and features a high-grade gold and silver resource. It includes three known precious metal deposits: Homestake Main, Homestake Silver and South Reef.
More than 90,000 metres in 275 holes have been drilled at Homestake Ridge forming a resource of high-grade gold and silver (along with copper and lead values) as follows:
- Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards for Mineral Resources and Mineral Reserves dated May 10, 2014 (CIM (2014) definitions), as incorporated by reference in NI 43-101, were followed for Mineral Resource estimation.
- Mineral Resources are estimated at a cut-off grade of 2.0 g/t AuEq.
- AuEq values were calculated using a long-term gold price of US$1,300 per ounce, silver price at US$20 per ounce and copper price at US$2.5 per pound and an exchange rate of US$/C$1.20. The AuEq calculation included provisions for metallurgical recoveries, treatment charges, refining costs and transportation.
- Bulk density ranges from 2.69 t/m3 to 3.03 t/m3, depending on the domain.
- Differences may occur in totals due to rounding.
- The Qualified Person responsible for this mineral resource estimate is Andrew Turner, P.Geol., APEX Geoscience Ltd.
South Reef deposit
On January 20, 2022, Dolly Varden Silver filed an updated Technical Report and Updated Mineral Resource Estimate for the Homestake Ridge Gold Project, prepared by Apex Geoscience Ltd.
Fury Gold Mines Ltd. Historic Preliminary Economic Assessment
The former project owner, Fury Gold Mines Ltd., completed a previous Preliminary Economic Assessment on the Homestake Ridge project with robust economics. This historic NI 43-101 compliant technical report dated May 29, 2020, prepared by Minefill Services, Inc. can be found by searching www.SEDAR.com.