WHITE ROCK, BC / ACCESSWIRE / June 29, 2021 / TDG Gold Corp .
TDG, as part of its due diligence, commissioned Sue Bird, P.Eng of MMTS to undertake an independent mineral resource estimate for the Nueva Esperanza project in accordance with NI 43-101.
TDG has agreed to raise a minimum of $35,000,000 in an equity financing concurrent with the closing – further announcements will follow in due course regarding the financing arrangements.
Completion of the proposed acquisition would be subject to a number of conditions precedent, including completion of satisfactory due diligence, the negotiation and settlement of a binding definitive agreement, and receipt of regulatory approval, including the approval of the Exchange.
Over 100 Moz of gold with associated silver and copper have been discovered in the Maricunga Belt in northern Chile to date, with deposits dominantly hosted in a late Oligocene to Miocene age metallogenic belt.
It comprises three well-defined silver-gold deposits hosted in a high sulphidation epithermal system along with a number of undeveloped exploration targets, including additional epithermal targets and gold mineralization hosted in porphyritic rocks.
In July 2020, the project was granted Environmental Impact Assessment approval allowing the pre-development, construction and operation of Arqueros, Chimberos and Teterita.
The Historical Estimate was estimated using Ordinary Kriging .
In order to classify the Historical Estimate as current, a qualified person under NI 43-101 would have to complete a site visit to the project and complete an analysis of the Historical Estimate, including re-modelling each deposit and validating the historical assay results using statistical methods.
TDG is a major holder of mineral claims and mining leases in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement.
These assumptions and risks include, but are not limited to, assumptions and risks associated with the ability of the Company to enter into a binding agreement with respect to the proposed acquisition of the Nueva Esperanza project, the completion of other conditions precedent to such acquisition, including the receipt of regulatory approvals, the completion of the Company’s due diligence review in relation to the proposed acquisition, the state of equity financing markets and the Company’s ability to complete the planned funding to complete the acquisition and undertake its future work programs, and results of future exploration activities by the Company.
The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them.
2 A qualified person has not done sufficient work to classify the Historical Estimate as current mineral resources or mineral reserves, and TDG is not treating the historical estimate as current mineral resources and reserves.
3 A qualified person has not done sufficient work to classify the Historical Estimate as current mineral resources or mineral reserves, and TDG is not treating the historical estimate as current mineral resources and reserves.