G Mining Ventures Announces Mineral Reserves and Resources
G Mining Ventures (TSX: GMIN)
Provided an update on year-end 2024 mineral reserves and mineral resources and announce the updated mineral resource estimate for its 100% owned, advanced exploration-stage Gurupi Project, located in northern Brazil
Highlights: M & I Resources 8.28 million ounces, Inferred Resources: 2.40 Moz, and Proven & Probable Reserves: 2.03 Moz.
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| G Mining Ventures | TSX: GMIN | |
| Stage | Development + Exploration | |
| Metals | Gold | |
| Market cap | C$3.43 billion @ C$15.45 | |
| Location | Para State, Brazil, Guyana | |
| Website | www.gminingventures.com |
Comment
A really positive update from a company run really well by an experienced management team.
If the gold price remains around the current levels GMIN are well placed to forge ahead with the extra revenue self-funding its advanced exploration projects.
The old mantra applies here, my first rule of investing is quality management.
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G Mining Ventures Announces Consolidated Mineral Reserves and Resources for Year-End 2024 including Mineral Resource Estimate for the Gurupi Project in Brazil
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All amounts are in USD unless stated otherwise
Highlights
- Significant Resource Growth – + 295% growth in year-over-year consolidated mineral resources to a total of 8.28 Moz of indicated resources and 2.40 Moz of inferred resources
- Tocantinzinho Gold Mine – Good replacement of mineral reserves after first year of production with current mineral reserves of 2.03 Moz
- Oko West Project – Positive infill drilling results from49,000mof drilling to support upcoming Feasibility Study and initial mineral reserve estimate
- Gurupi Project – Updated mineral resource estimate (“MRE”) of 1.83 Moz of indicated resources and 0.77 Moz of inferred resources
- Fourth quarter and year-end 2024 earnings conference call scheduled for March 28, 2025
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BROSSARD, QC,Feb. 20, 2025/CNW/ – G Mining Ventures Corp.(“GMIN” or the “Corporation”) (TSX: GMIN) (OTCQX: GMINF) is pleased to provide an update on year-end 2024 mineral reserves and mineral resources (“MRMR”) and announce the updated mineral resource estimate (“MRE”) for its 100% owned, advanced exploration-stage Gurupi Project (“Gurupi”), located in northernBrazil, prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
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Year-End 2024 Mineral Reserves and Mineral Resources Update
2024 Year-End (“YE”) Consolidated MRMR Highlights:
- Measured & Indicated Resources: 8.28 million ounces (164 Mt @ 1.57 g/t Au)
- Inferred Resources: 2.40 Moz (39 Mt @ 1.92 g/t Au)
- Proven & Probable Reserves: 2.03 Moz (51 Mt @ 1.24 g/t Au)
Gurupi Project Mineral Resource Estimate
The Gurupi Project (formerly known as the CentroGold Project) comprises 47 contiguous tenements covering ~2,100 km2 situated along +80 km of known mineralized trend.
The Project is located approximately 380 km southeast of Belém, capital of the State of Pará, and 500 km west northwest of São Luis, capital of the State of Maranhão.
The mineral resource estimate (“MRE”) is contained within three deposits: Blanket and Contact (Cipoeiro area) and Chega Tudo.
The MRE is based on 715 diamond drill holes, 220 reverse circulation holes, totaling126,193m performed between 1995 and 2019. This MRE includes 32 infill drillholes that were not included in the database for the previous Pre-Feasibility Study completed by past operator, OZ Minerals.
Although Blanket and Contact deposits are spatially close, only a few drillholes tested the continuity of the grade in between the two, representing an opportunity for growth of the mineral resources in the future.
Exploration efforts will focus on data compilation and interpretation, machine learning-based core relogging, conducting a high-resolution survey across 720 km², and completing soil sampling to follow up on historic gold showing and newly defined targets.
These activities aim to assess and evaluate the land package’s value. A budget of$2to 4 million has been allocated for the project in 2025.
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Tocantinzinho Gold Mine MRMR Update
TZ Gold Mines, inaugurated last year, has updated its Mineral Resources and Reserves following the integration of grade control data and infill diamond drillholes.
The improved understanding of the deposit through these activities has led to a revision in resource estimates, successfully replacing reserves and reinforcing long-term operational planning.
An additional 3,700 m of drilling validated the northwest extension of the TZ deposit in 2024, adding this 300 m extension in the presented Mineral Resources.
In 2024, a total of 73 koz were processed (1.7 Mt at 1.32 g/t Au) and 128 koz were stockpiled (4.8 Mt at 0.81 g/t Au) for a total of 201 koz (6.6 Mt at 0.95 g/t Au). Total remaining reserves at year end 2024 stand at 2.03 Moz (51.1 Mt at 1.24 g/t Au).
In 2025, near-mine exploration of $2 million is planned to test the extension at depth and on the northwest limb of the deposit.
A regional exploration budget of $9 million is planned for 2025 to test 23 targets within a 5 km radius with the primary goal to identify additional deposits.
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To read the full news release, please click HERE
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The live gold price can be found HERE
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Disclosure
At the time of writing the author holds shares in G Mining Ventures.
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