GOLD: Resource Capital raises numbers at Forest Hill and Tangier properties

NOVA SCOTIA – Vancouver-based Resource Capital Gold Corp. has updated and increased the mineral resources at its Forest Hill and Tangier gold projects. The contained ounces at both former producers have grown compared to earlier estimates. [caption id="attachment_1003718201" align="alignleft" width="300"] Longitudinal section of the Forest Hill mine.[/caption] Gold was first discovered at Forest Hill in 1883, and through 1916 the mine produced 26,792 oz. of gold. In the 1980s a 230-metres shaft was sunk and 94,000 tonnes of ore was mined. Certainly the property has potential for more production. The indicated resource (capped at 110 g/t) is now 322,000 tonnes grading 7.1 g/t gold and containing 73,000 oz. The inferred portion is 905,000 tonnes at the same grade and containing 208,000 oz. of gold. The discovery of gold at Tangier was even earlier – 1860. Historic production up to 1936 is estimated to have been 29,360 oz. Bulk samples were taken at the mine in the 1980s, the best of which contained 1,513 tonnes grading 19.9 g/t Au. The updated inferred resource (capped at 40 g/t) is 493,000 tonnes averaging 5.9 g/t gold and containing 93,000 oz. Resource Capital says both properties have excellent expansion potential. Preliminary economic estimates are planned for both. More information is available at www.RCGcorp.ca.