AM Gold Inc TSXV:AMG announced an updated NI 43-101 resource estimate for the Jethro structure of its Red Mountain property in Yukon. The project now has inferred resources of 127 million tonnes grading 0.48 g/t gold for 1.95 million contained ounces.
VP Exploration Neil Downey stated, “We are very pleased with the significant increase in the inferred resource estimate at Red Mountain as it represents a considerable step forward for the project. The project remains open in all directions and at depth. The inferred resource has been estimated to a depth below surface of 300 metres, but we have drilled to a vertical depth of 527 metres ending in strong mineralization indicating substantial expansion potential.”
by Ted Niles