Trading Commences on the C.S.E. Under Symbol CRC
Vancouver, British Columbia / September 24, 2019 - Corsurex Resource Corp., formerly Gold Port Resources Ltd., (CSE: CRC) (the “Company”) is pleased announce that its common shares have commenced trading on the CSE under the ticker symbol “CRC”.
Based in Vancouver British Columbia, Corsurex holds a 100% interest in the Groete Gold Copper Project located in Guyana, S.A. The National Instrument 43-101 Mineral Resource Estimate (the “Technical Report”) is in the Inferred Mineral Resource classification for an open pit cut-off grade of 0.25 g/t AuEq is summarized in Table 1.1. Mineral Resource estimation parameters including bulk density, metal values, process recoveries and pit optimization costs are detailed in Section 14 of the Technical Report. A gold price of US$1,275/oz was used for the Mineral Resource Estimate.
| TABLE 1.1 SUMMARY OF THE GROETE DEPOSIT UPDATED PIT CONSTRAINED MINERAL RESOURCE ESTIMATE(1-5) | ||||||
|---|---|---|---|---|---|---|
| Classification | Domain | Tonnes (M) | Au (g/t) | Cu (%) | AuEq (g/t) | AuEq (M oz) |
| Inferred | Saprolite | 5.6 | 0.48 | 0.09 | 0.61 | 0.11 |
| Fresh | 68.4 | 0.49 | 0.12 | 0.66 | 1.46 | |
| Total | 74.0 | 0.49 | 0.12 | 0.66 | 1.57 |
1) Mineral Resources are reported inside a constraining pit shell at a cut-off of 0.25 g/t AuEq.
2) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
3) The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
4) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
5) The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
The Technical Report is available at corsurex.com and at SEDAR.
This news release has been reviewed and approved by independent Qualified Person, Eugene Puritch, P.Eng., FEC, CET, president of P&E Mining Consultants Inc.
Adrian Hobkirk, President and CEO of the Company, is quoted “the timing of the Corsurex listing could not be better with the renewed interest in gold. Our objective will be to enhance the current defined resource both is size and classification. Work to date has only drilled 1,200 meters of a 4 km strike. A Guyana experienced team is in place, and plans are set to move the project forward quickly”.
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ON BEHALF OF THE BOARD OF DIRECTORS
Adrian Hobkirk, President, CEO and Director
T: 954.684.8040 E: [email protected]
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.