1 Proven and Probable Mineral Reserves as of December 31, 2020 2 Measured and Indicated Resources are exclusive of Mineral Reserves (Excludes Inferred Resources) as of December 31, 2020
See Mineral Reserves and Resources Summary as of December 31, 2020 for additional details including a breakdown by category.
The projected life of the Rainy River Mine extends through 2032 based on current mineral reserves and throughput levels.
Rainy River commenced processing ore on September 14, 2017 and completed its first gold pour on October 5, 2017. Commercial production followed on October 19, 2017. Development of the underground mine began in the second half of 2018.
The mine occupies approximately 6,050 hectares, comprising 87 patented mining rights and surface rights claims (including eight leasehold interest mining rights and/or surface rights claims). In addition, New Gold has a land package of approximately 17,240 hectares surrounding the mine site, including patented mining rights and/or surface rights and unpatented claims. All unpatented claims are in good standing and assessment work credits are sufficient to maintain that standing for several years.
The Rainy River district comprises multiple volcanogenic-style gold deposits situated within the Late Archean Wabigoon Subprovince of Ontario. Local stratigraphy comprises a series of tholeiitic mafic volcanic rocks structurally overlain by calc-alkalic dacitic metavolcanic rocks that host the bulk of gold mineralization in the district.
Mineralized zones generally follow the regional northwesterly strike and southerly dip of stratigraphy. The largest of these, the ODM/17 Zone, extends 1,600 metres along strike, 975 metres down dip (open at depth), and has a true width of 200 metres. Three principal styles of gold mineralization have been identified at Rainy River: gold-bearing sulphide ± quartz stringers and veins in felsic quartz-phyric rocks, (ODM/17, Beaver Pond, 433 and HS Zones), quartz-ankerite-pyrite shear veins in mafic volcanic rocks (CAP/South Zone), and sulphide-bearing silver-enriched quartz veinlets in dacitic tuffs and breccias (Intrepid Zone). Most of the gold mineralization identified to date occurs in the sulphide bearing stringers and veins within the felsic quartz-phyric rocks. A fourth style of mineralization characterized by copper-nickel-platinum minerals occurs within a small, younger mafic-ultramafic intrusion (34 Zone) situated within the main cluster of gold and silver deposits. All deposits show some degree of deformation, excepting the copper-nickel-platinum-bearing type.
The Rainy River project represents one of Canada’s newest emerging gold districts. The Rainy River district was first explored for nickel sulphide style mineralization in the mid-1960s. The eventual recognition of the district’s gold potential in 1988 led to the discovery of gold mineralization in what has become a large system of stratiform gold-rich volcanogenic style sulphide deposits. After three years of commercial production, the Rainy River Mine accounts for 2.6 million ounces of gold reserves and an additional 2.0 million ounces of measured and indicated resources1.
New Gold exploration efforts continue to focus on the discovery of additional mineralization within the broader Company’s landholdings to potentially extend the commercial life of the mine.
1 Measured and Indicated Resources are exclusive of Mineral Reserves (Excludes Inferred Resources) as of December 31, 2020
New Gold is committed to responsible mining in all mining, processing and environmental work across our operations and facilities from exploration, to mining, to rehabilitation and closure. As an organization, we strive to reach the highest standards in employee health and safety, environmental protection and community development and engagement. We believe these are key drivers to achieving a productive and profitable business.
Our policies and practices are guided by principles found in the United Nations Global Compact of which we are signatories, and our operational standards are based on the Mining Association of Canada’s Towards Sustainable Mining Protocols.
New Gold is committed to working closely with communities to make a positive contribution to the community and regions in which we live and work. We recognize that our growth and success depend on the long-term economic, social and environmental sustainability of each of the communities in which we operate.
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