TORONTO, March 02, 2018 (GLOBE NEWSWIRE) — Sprott Resource Holdings Inc. (“SRHI” or the “Corporation”) (TSX:SRHI) is pleased to announce the results of an updated NI 43-101 compliant mineral reserve and mineral resource estimate, pre-feasibility study for the implementation of chloride media leaching (“Salt Leach”), and feasibility study for the expansion of the Don Gabriel Manto open pit, as well as an update on the operating and growth activities for its 70%-owned Minera Tres Valles (SpA) (“MTV”) property located near Salamanca, Chile.
“We are very pleased that the updated technical studies validate our investment thesis through mineral reserve and resource estimates that are in-line with the due diligence we conducted before acquiring the MTV asset,” said Steve Yuzpe, CEO of SRHI.
NI 43-101 Mineral Reserve and Mineral Resource Estimates
MTV engaged Independent Mining Consultants, Inc. (“IMC”) of Tucson, Arizona to prepare NI 43-101 compliant mineral reserve and mineral resource estimates and a supporting technical report for the Don Gabriel and Papomono mines on MTV’s property located near Salamanca, Chile. Based on 771 diamond drill holes totaling 145.5 thousand meters, the total measured and indicated mineral resources is 18.3 million tonnes at 1.03% copper containing 417.3 million pounds of copper. Inferred mineral resources total 3.5 million tonnes at 1.11% copper containing 84.4 million pounds of copper.
Unless otherwise noted or indicated, scientific and technical content contained in this press release related to MTV has been reviewed, verified and approved by Dr Antonio Luraschi, RM CMC, Manager of Metallurgic Development and Senior Financial Analyst, Wood, Mr Sergio Navarrete, RM CMC, Mining Engineer, Wood, Mr Alfonso Ovalle, RM CMC, Mining Engineer, Wood, Mr Michael G. Hester, FAusIMM, Vice President and Principal Mining Engineer, Independent Mining Consultants, Inc.,