Upgraded resource moves Willow Creek a step closer to development
Last updated 3/13/2016 at Noon
Miranda Gold Corp. and Gold Torrent Inc. March 7 published an updated mineral resource for Willow Creek, located roughly 75 miles north of Anchorage, Alaska.
This high-grade gold development project is now estimated to contain 206,500 metric tons of measured and indicated resources averaging 18.3 grams per metric ton (121,500 ounces) gold; and 59 thousand metric tons of inferred resource averaging 18.5 g/t (35,150 oz.) gold.
Based on information from 174 holes drilled at the Willow Creek project, these resources encompass eight veins in the Coleman area and two veins in the Lucky Shot area.
Miranda and Gold Torrent said the potential exists to increase the mineral resources at the Willow Creek through drilling down-dip extensions of the Coleman and Lucky Shot area, and the exploration targets in the War Baby and Murphy areas along strike to the east.
Willow Creek is being developed through a joint venture partnership between Miranda and Gold Torrent, with Gold Torrent earning a 70 percent interest in the project by funding the first US$10 million in development costs.
Completion of the updated mineral resource estimate for the Willow Creek Project allows Gold Torrent to move forward with a planned preliminary feasibility study, anticipated to be released by mid-2016.