#Peru #GoldMining #Carabaya #Crucero Project #Gold-Antimony

GoldMining Inc. Confirms Significantly Promising Drill Results in Peru

GoldMining Inc. has reported remarkable historical drill results from its wholly-owned Crucero Project in Peru, confirming significant findings of both gold and antimony mineralization. This indicates the project’s potential for multi-metal value creation, showcasing the company’s commitment to expanding its exploration efforts.

Overview of Drill Results

The comprehensive analysis of the drill hole samples from the Crucero Project reveals multiple significant intercepts, sparking excitement among stakeholders. Notable results include:

• - DDH-36: 361.89 g/t AuEq over 119 metres
• - DDH-37: 4.34 g/t AuEq over 60 metres
• - DDH-38: 2.50 g/t AuEq over 115 metres
• - DDH-43: 3.51 g/t AuEq over 93 metres
• - DDH-45: 6.79 g/t AuEq over 44 metres
• - DDH-40: 2.85 g/t AuEq over 64 metres

These results confirm the presence of substantial antimony values in addition to established gold resources, reinforcing the strategic importance of the Crucero Project.

Strategic Implications of Antimony

Antimony is recognized as a critical strategic metal, with prices surged to approximately $55,000 per tonne, significantly up from $11,600 per tonne at the beginning of 2024. This spike in pricing highlights the growing demand for antimony, especially as industries seek to secure this valuable resource amidst geopolitical tensions and supply chain concerns.

GoldMining’s CEO, Alastair Still, expressed enthusiasm for these findings, stating the significance of identifying and evaluating antimony alongside gold mineralization. By incorporating antimony into their existing models, GoldMining aims to enhance the economic viability of the Crucero Project. The dual gold-antimony system presents an exciting opportunity for increased resource value and recovery potential

Project Background

The Crucero Project is situated in the Andes mountain range, specifically in Carabaya Province, southeastern Peru. It boasts orogenic gold mineralization associated with various minerals including pyrite, arsenopyrite, and importantly, stibnite, which is a primary antimony-bearing mineral. The exhaustive drilling done on the project has yielded 79 core holes, contributing extensively to the mineral resource estimates.

The project currently estimates approximately 1 million ounces of gold in the Indicated category and another 1.15 million ounces in the Inferred category. This estimation is instrumental in guiding future progress and project planning. It is noteworthy that the exploration strategies that have been employed include a multi-faceted approach comprising geological mapping, diamond drilling, and extensive metallurgical testwork.

Next Steps

GoldMining plans to further investigate the integration of antimony deposits into a new mineral resource estimate for the Crucero Project. As additional assay certificates and results are compiled, the ambition to ascertain a more comprehensive assessment will be pursued vigorously. The focus remains on refining the understanding of antimony distribution and grade throughout the project area.

The company's commitment to transparency and accuracy in reporting continues to evolve alongside its growing exploration portfolio.

In conclusion, GoldMining Inc.’s recent drilling results reinforce the attractiveness of the Crucero Project, underlining the emerging dual gold-antimony value opportunity. Investors and stakeholders in the mining sector should closely monitor upcoming developments as the company continues its strategic advancement efforts in Peru.