Lincoln Mining Corp. said Sept. 16 that it estimated a total of 210,962 ounces of gold within 5.9 million tons at 0.036 ounces per ton in the indicated category at the Wheeler and Wilson deposits of the Pine Grove gold-copper project in Nevada.
The updated mineral resource estimate is reported using a long-term gold price of US$1,400 per ounce, and excludes all mineralization that exists outside of the optimized open pits.
The new estimate will be included in the permitting process as the project advances towards production.
In March, the company's subsidiary Lincoln Gold US Corp. granted Eros Resources Corp., a subsidiary of Bell Mountain Exploration Corp. and unlisted Demerara Gold Corp. an option to own 75% of the Oro Cruz gold project in Australia.
