28 February 2020
Nord Gold SE, the internationally diversified gold producer, is pleased to announce a NI 43-101 compliant Mineral Resource Estimate for the Vickers gold deposit, part of the 100%-owned Pistol Bay project in Canada.
Pistol Bay is a gold exploration project located in Nunavut Territory, northern Canada, on the west coast of Hudson Bay. The Pistol Bay property consists of 860 square kilometers of mineral rights within the underexplored Rankin-Ennadai greenstone belt. The project is favorably located within the Arctic Circle with existing infrastructure and forms a part of Nordgold’s extensive international exploration pipeline.
Inferred open pit Resources increased by 114% to 1.58 million ounces (Moz) of gold at a grade of 2.2 g/t from previous estimate of 739 koz at 2.95 g/t (RPA, 2016).
The increase in Resources follows an extensive 2019 drilling programme to evaluate a potential extension of the high grade mineralized zone at Vickers.