An updated resource estimate for Midas Gold Corp.'s Stibnite property in Idaho includes an initial measured resource. The higher-confidence material occurs within the Yellow Pine deposit, which is the first deposit expected to be mined at the site.
Stibnite hosts measured and indicated resources totaling 104.9 million tonnes grading 1.66 g/t of gold, 2.53 g/t of silver and 0.09% antimony for 5.6 million ounces of gold, 8.5 million ounces of silver and 203.8 million pounds of antimony.
Inferred resources are estimated at 23.2 million tonnes grading 1.29 g/t of gold, 2.04 g/t of silver and 0.04% antimony for 959,000 ounces of gold, 1.5 million ounces of silver and 20.5 million pounds of antimony.
The estimate uses cutoffs of 0.75 g/t of gold for open pit sulfide material and 0.45 g/t of gold for open pit oxide material.
The company said Feb. 15 that the update incorporates data from drilling completed since 2014, additional data collected by previous project operators and more detailed geological modelling.
Midas Gold will use the updated estimate to help complete mine planning and other components of a feasibility study anticipated in late 2018.
In September 2017, the company reported that various U.S. agencies were coordinating efforts related to permitting at Stibnite.