A total of 10,523 samples were included in the resource calculation before the cut-off date of February 19th, 2021.
A cut-off date for the resource calculation was set at February 28th, 2021 in order to enable sufficient time to complete the report and have Jaguar review prior to mid-2021.
The Company is also pleased to report that an additional tenement located in the center of the Project was recently acquired.
Some of the exploration work was required to maintain the tenements in good legal standing with the Brazilian mining and exploration agencies.
The effective date for the mineral resource is 16th of March, 2021 and a corresponding technical report disclosing the mineral resource estimate in accordance with NI 43-101 has been prepared by RBM Consultoria Mineral for the Company endorsed by Mr. Rodrigo Mello, FAusImm.
Figure 1 in the Annex illustrates the three main targets in the 12km mineralized extension including Igrejinha, Coelhos-Queimadas and Mirador and shows that some outlines of mineralized bodies are starting to take shape.
The Phase II exploration program will also enable the Company to maintain all tenements in good legal standing through completion of exploration work and filing of required reports to the Brazilian authorities.
Diamond core drilling will be conducted to provide insight into lithology, structural geology, controls on mineralization, grades and grade variability at depth.
The Quality Assurance and Quality Control protocol adopted by South Atlantic was comprised of a series of industry standard procedures designed to monitor the precision and repeatability of the reported assay results and identify potential problems at the laboratory.
His working experience includes 15 years as an exploration geologist and project manager, working in Archean, Proterozoic and Tertiary environments, 20 years as a mineral resource analyst working in the evaluation of gold, copper, zinc, nickel and silver deposits in nine different countries, authoring or co-authoring 19 Technical Reports published on the Sedar database.
South Atlantic Gold is focused on creating value for its shareholders by engaging in the development and acquisition of high-quality mineral assets located in stable and mining friendly jurisdictions.
Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE.