Colossus Minerals Announces Preliminary Resource Estimate

Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) announced a preliminary resource estimate for its 75% owned Serra Pelada gold-platinum-palladium Mine in Brazil.

As quoted in the press release:

TABLE 1 MINERAL RESOURCES – DECEMBER 20, 2013
Colossus Minerals Inc. – Serra Pelada Project

Category Tonnes (000) g/t Au g/t Pt g/t Pd OZ Au (000) Oz Pt (000) Oz Pd (000)
Indicated 557 12.8 2.7 4 230 48 71
Inferred 88 8.6 1.7 2.5 24 5 7

Notes:

  1. CIM definitions were followed for Mineral Resources.
  2. Mineral Resources are estimated at a cut-off grade of 5 g/t Au. Some blocks less than cut-off grade are included to maintain continuity in areas of Indicated Mineral Resources.
  3. High assays are capped at 150 g/t gold, 100 g/t platinum and 100 g/t palladium.
  4. Mineral Resources are estimated using a long-term gold price of US$1,500 per ounce, and a US$/C$ exchange rate of 1:1.
  5. A minimum mining width of 3 m was used.
  6. Bulk density is 2.3 t/m3 for the hinge zone and 2.5 t/m3 for the top and bottom limb zones.
  7. Numbers may not add due to rounding.

Click here to read the Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) press release
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