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GoldMining announces resource Estimate for the Yarumalito gold projekt in Colombia

ID: 1557876
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(PresseBox) - .


- Maiden inferred resource estimate for the Yarumalito Project of 1.24 Moz gold grading 0.58 g/t gold and 0.09% copper or 1.5 Moz gold equivalent grading 0.70 g/t gold equivalent (Table 1);

- The estimate furthers GoldMining''s unique position of holding one of the largest global resource-stage gold portfolios among mid- and junior-tier mining companies;

- Yarumalito is GoldMining''s third acquisition in the Mid Cauca Belt of central Colombia, which also hosts several multi-million ounce gold deposits owned by Zijin Mining, B2Gold and Anglogold Ashanti; and

- GoldMining''s global aggregated mineral resource (Fig.1 and Table 2) now totals:

o 10.5 Moz gold (13.4 Moz gold equivalent) in the measured and indicated categories; and

o 13.7 Moz gold (16.4 Moz gold equivalent) in the inferred category.

GoldMining Inc. (the "Company" or "GoldMining") (TSX: GOLD; OTCQX: GLDLF - ) is pleased to announce that it has completed a maiden mineral resource estimate for its 100% owned Yarumalito Gold-Copper Project (the "Yarumalito" or the "Project"), Antioquia, Colombia.

The mineral resource estimate was prepared by Global Mineral Resource Services of Vancouver, Canada and includes a pit constrained inferred resource of 66,271,000 tonnes grading 0.58 g/t gold (1,236,000 ounces) and 0.09% copper (129,262,000 pounds) or 0.70 g/t gold equivalent (1,502,000 ounces) using a 0.5 g/t gold equivalent cut-off.

Garnet Dawson, CEO of GoldMining, commented, "We are excited to announce this maiden resource for Yarumalito ? another strategic acquisition our team identified and executed as part of our long-term plans of focused acquisitions in the Americas. ent gold price improvements and decreasing worldwide gold discoveries.

Yarumalito is located within the same Miocene age gold belt that hosts advance-stage multi-million ounce gold deposits owned by Zijin Mining, B2Gold and Anglogold Ashanti; mineralization hosted on these projects is not necessarily indicative of the future mining potential of the Project. "

The Project

Yarumalito is located approximately 75 km southwest of the city of Medellin in the Department of Antioquia in Central Colombia and approximately 40 km south of GoldMining''s La Mina Project.

Exploration programs from 2008 to 2013 outlined several geophysical and geochemical anomalies across the property including the Obispo, La Suiza, Balastreras, Escuela, El Guaico and El Sucre targets.

Resource Estimate

The following table sets forth the mineral resource estimate for Yarumalito.

Table 1: Inferred resource statement1 using a 0.5 g/t gold equivalent cut-off for the Yarumalito Gold-Copper Project, Colombia, Global Mineral Resource Services.

The Yarumalito deposit was modelled on a series of north-south cross-sections spaced 100 m apart from which a three-dimensional wireframe model was constructed for the mineralized zone at an approximate grade boundary of 0.1 g/t gold. es were calculated based on the following formula:

AuEq = ((Au ppm*48.2) + (Cu ppm*0.006))/48.2

where 41.8 equals US$/gram for gold based on a gold price of US$1,500/ounce and 0.006 equals US$/ppm for copper based on a copper price of US$2.70/pound.

The block model was validated in three ways: (i) visual comparison of block values with underlying drill hole composite values; (ii) comparison of descriptive statistics for the gold and copper block values with assay and composite values, and (iii) swath plots of gold equivalent composites, gold equivalent block grades and modeled tonnage.

Resources were classified as inferred because the drilling is relatively widely spaced and there has been limited metallurgical testwork.

Reasonable prospects for eventual economic extraction were determined by reporting the resource within a conceptual pit shell.

Further details regarding the foregoing estimate, including the estimation methods and procedures, will be available in a Canadian National Instrument 43-101 Technical Report, which will be filed on SEDAR ( under the Company''s profile within 45 days of the date hereof.

Quality Control ? Quality Assurance Program

The above resource estimate was based on drilling programs completed by previous operators.

and standards as part of their Quality Control ? Quality Assurance Program.

Qualified Persons

The resource estimate disclosed herein on Yarumalito was prepared for GoldMining by Greg Z. Mosher, M.Sc., P.Geo., of Global Mineral Resource Services, Vancouver, Canada.

Paulo Pereira, President of GoldMining Inc. has reviewed and approved the technical information contained in this news release.

Note on Mineral Resource Estimates

Inferred mineral resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. of an inferred mineral resource will be upgraded to a mineral reserve.

The terms ?mineral resource?, ?measured mineral resource?, ?indicated mineral resource?, ?inferred mineral resource? used herein are Canadian mining terms used in accordance with NI 43-101 under the guidelines set out in the Canadian Institute of Mining and Metallurgy and Petroleum (the ?CIM?) Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as may be amended from time to time. & Exchange Commission (?SEC?) Industry Guide 7.

About GoldMining Inc.

GoldMining Inc. is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas.asin of Alberta, Canada.

The above aggregated resource statement is provided for information purposes only.

Forward-looking Statements

This document contains certain forward-looking statements that reflect the current views and/or expectations of GoldMining with respect to its business and future events, including expectations and future plans respecting the Project and any future exploration programs and other work on the Project. rs are cautioned that all forward-looking statements involve risks and uncertainties, including: the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other exploration data, the potential for delays in exploration or development activities, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with GoldMining?s expectations, accidents, equipment breakdowns, title and permitting matters, labour disputes or other unanticipated difficulties with or interruptions in operations, fluctuating metal prices, unanticipated costs and expenses,

1Mineral resources are not mineral reserves and do not have demonstrated economic viability.

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published by: PresseBox
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Date: 05/06/2020 - 08:51
Language: English
News-ID 1557876
Character count: 3157
Firma: Swiss Resource Capital AG
Ansprechpartner: Feedback to about Pressrelease-id:
Stadt: Vancouver, British Columbia


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