Firesteel Resources Inc. Announces Granting Of Options
(PresseBox) - Firesteel Resources Inc. (TSX.V: FTR) ("FTR" - https://www.youtube.com/watch?v=svqa541JNhA&t=7s ) announces granting of options to purchase 300,000 common shares of FTR at an exercise price of $0.15 and valid for a period of five years to consultants of FTR, subject to regulatory approval.
About the Company
Firesteel is a junior mining company with a near production gold mine in Finland.
A recently released PEA was conducted by John T. Boyd Company
Other Highlights include:
Pre-production capex $7,115,103
75,981 ounces of average annual gold production at a cash cost of $863 per ounce and AISC of $974 per ounce
Measured mineral resources of 355,000 tonnes at 1.132 g/t Au and Indicated mineral resources of 3,442,000 tonnes at 1.248 g/t Au1
Inferred mineral resources of 9,030,000 tonnes at 1.531 g/t Au1
Mill grade of 1.45 grams per tonne with a recovery of 90.4%
Life of Mine production of 456,600 ounces gold over a 6-year mine life
The PEA is preliminary in nature and includes Inferred Mineral Resources that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that PEA results will be realized. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
1. See press release dated August 21, 2017. ?NI-43-101 Technical Report, Mineral Resource Estimate, Laiva Gold Mine Project, Raahe, Finland? dated August 9th, 2017.
Disclosure: Companies typically rely on comprehensive feasibility reports on mineral reserve estimates to reduce the risks and uncertainties associated with a production decision.eports, historical production data and current engineering work completed or in process by Firesteel, the Company intends to move forward with the development of this asset.
The Company further cautions that it is not basing any production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, and therefore there is a much greater risk of failure associated with its production decision. In addition, readers are cautioned that inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves.
Firesteel currently has one highly prospective property in British Colombia.
The Star property is currently operated under a Joint Venture agreement between Firesteel (49%) and Prosper Gold. (TSX-V: PGX) (51%).
About Pandion Mine Finance, LP
Pandion is an affiliate of PFL Raahe Holdings LP and is a mining-focused investment firm backed by MKS PAMP Group and Ospraie Management, LLC that provides flexible financing solutions to developing mining companies.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Paul Sarjeant, P.Geo., a Qualified Person under National Instrument 43-101 and a director of the Company.
For a detailed overview of Firesteel Resources Inc. please visit:
www.FiresteelResources.com
Advisory Regarding Forward Looking Statements
This news release contains forward-looking statements. Users of forward-looking statements are cautioned that actual results may vary from forward-looking statements contained herein. Forward-looking statements include, but are not limited to: expectations, opinions, forecasts, projections and other similar statements concerning anticipated future events, conditions or results that are not historical facts. In certain cases, forward-looking statements can be identified by the use of words such as ?plans?, ?expects? or ?does not expect?, ?is expected?, ?budget?, ?scheduled?, ?estimates?, ?forecasts?, ?intends?, ?anticipates? or ?does not anticipate?, or ?believes?, or variations of such words and phrases or statements that certain actions, events or results ?may?, ?could?, ?would?, ?might? or ?will be taken?, ?occur? or ?be achieved?. While the Company has based these forward-looking statements on its expectations about future events as at the date those statements were prepared, the statements are not a guarantee of the Company?s future performance.
The Company?s forward-looking statements are expressly qualified in their entirety by this cautionary statement and are made as of the date of this new release.
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Datum: 28.06.2018 - 01:19 Uhr
Sprache: Deutsch
News-ID 1537849
Anzahl Zeichen: 5879
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