New Gold announced in early April that it increased the measured and indicated gold resources at it Blackwater gold project 160 km southwest of Prince George, British Columbia, to 8.6 million oz at a grade of 0.88 g/mt from the previous total of 8 million oz at a grade of 0.85 g/mt reported at year-end 2012.
The Blackwater mineral resource estimate now draws on data from 1,002 holes totaling 309,509 m. The updated resource estimate will be used for the Blackwater project’s feasibility study.
New Gold will now shift its exploration focus to the broader Blackwater land package, where multiple targets were identified during 2012 through a systematic surface sampling program. The company currently has four drills active on the property. During the second and third quarters of 2013, it plans to move the drills to the Capoose exploration prospect on the property and to new prospective areas identified within its greater 1,000 km2 of mineral claims.
(www.newgold.com)
