Barrick(GOLD) Prnewswire·2025-02-26 21:30Core Viewpoint - GoldMining Inc. has announced an updated Mineral Resource Estimate (MRE) for its São Jorge Project in Brazil, highlighting significant exploration potential and plans for an expanded 2025 exploration campaign [1][4]. Updated Mineral Resource Estimate - The updated Indicated resource for the São Jorge deposit is estimated at 19.42 million tonnes (Mt) with an average grade of 1.00 gram per tonne gold (g/t Au), containing approximately 624,000 ounces (oz) of gold [6][10]. - An additional Inferred resource of 5.56 Mt at an average grade of 0.72 g/t Au is estimated to contain approximately 129,000 oz Au [6][10]. - The MRE is based on a long-term average gold price of US$1,950/oz Au and is reported within a conceptual pit design shell [6][8]. Exploration Potential - The São Jorge deposit is located within a 12 km x 7 km area of elevated surface geochemical anomalies, indicating broader exploration potential [6][11]. - The company has expanded its land package to 46,485 hectares (ha) by acquiring an additional 488.45 ha [6][19]. - High-grade auger drill intercepts from the 2024 drilling program include results such as 1 meter at 17.14 g/t Au and 5 meters at 2.78 g/t Au [6][20]. 2025 Exploration Plans - The company plans to double its exploration activities in 2025 compared to 2024, focusing on high-priority targets within the São Jorge mineral system [4][6]. - Follow-up drilling programs are planned to systematically explore areas with high-grade auger drill intercepts and significant soil anomalies [6][18]. Geological Context - The São Jorge deposit is classified as a granite-hosted, intrusion-related gold deposit, similar to other known deposits in the region [11]. - The geological model has been revised based on 2024 drilling results, enhancing the understanding of gold mineralization controls [12][14]. Technical Report - An independent Technical Report prepared by SLR Consulting supports the updated MRE and is available for public access [7][8].