Atlantic Gold Corporation (ASX:AGB, TSX-V:AGB) has increased Measure and Indicated Resources at its wholly-owned Beaver Dam gold deposit in Canada by about 50% to 9.27 million tonnes at 1.43 grams per tonne, or 426,600 ounces.
The project is located 20 kilometres east of the company’s Touquoy Gold Project and 80 kilometres of Halifax.
Inferred Resources have been reduced by upgrade to Measured and Indicated Resources from 120,000 ounces to 81,300 ounces.
Beaver Dam lies along the same geological trend as the company’s other deposits and is being developed as a satellite to the planned Touquoy operation.
Ore from the deposit will be hauled 37 kilometres by road to the Touquoy processing plant following completion of mining at Touquoy in Year 5.
The combined operation that includes milling ore from Touquoy and Beaver Dam is entitled the Moose River Consolidated project.
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