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1911 Gold starts tailings reprocessing operations at the True North complex at Bissett, Manitoba, aided by $300,000 from Manitoba Mineral Development Fund

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1911 Gold Corporation (TSXV:AUMB) (OTCQX:AUMBF) announces the commencement of tailings reprocessing operations at the True North complex at Bissett, Manitoba. The company expects to process between 170,000 and 190,000 tonnes of historical tailings in 2022 to recover approximately 3,500 to 4,000 ounces of gold.

Additional Information:

Company: 1911 Gold Corporation
Website: https://1911gold.com/
Stock Symbol: TSXV:AUMB
Date Published: Jun 23, 2022
Transcript: Available

Video Transcript:

1911 Gold Corporation (TSXV:AUMB) (OTCQX:AUMBF) announces the commencement of tailings reprocessing operations at the True North complex at Bissett, Manitoba.

Over the past 10 years the company has consolidated a historically fragmented group of properties and now holds a contiguous land package totalling more than 58,000 hectares, the largest ever assembled for this belt, stretching for 75 kilometres, within and adjacent to the Archean Rice Lake greenstone belt in Manitoba.

Management believes its land package is a prime exploration opportunity, with potential to develop a mining district centred on the True North complex.

It also owns the True North mine and mill complex at Bissett, Manitoba, where it reprocesses historic tailings on a seasonal basis.

The company expects to process between 170,000 and 190,000 tonnes of historical tailings in 2022 to recover approximately 3,500 to 4,000 ounces of gold.

Early in 2022 the company completed a sampling program to characterize the grade, thickness, grain-size and moisture content of the tailing in the targeted resource blocks to quantify the expected gold recovery.

Based on the results of this work, the company expects to process approximately 1,200 tonnes per day at an average grade of 0.8 grams per tonne gold during the period of operations.

The company has been approved for a $300,000 grant from the Manitoba Mineral Development Fund, which was launched by the Manitoba Government in August 2020 and administered through the Manitoba Chambers of Commerce, with the specific goal of jump-starting mineral and economic development initiatives throughout the Province of Manitoba.

It focusses on supporting new economic development opportunities that capitalize on existing assets and infrastructure across Manitoba, such as the company's True North mine, mill and tailings facilities located at Bissett, Manitoba.

The proceeds from this grant will go directly to fund the costs associated with the restart of the 2022 tailings reprocessing operations, including the payroll costs during the initial ramp up period.

Shaun Heinrichs, President and CEO, stated: "We are pleased to receive this support from the MMDF as we prepare for another productive year of tailings reprocessing operations. Work completed early in 2022 will increase the efficiency of our operations this year and maximize gold production. Our exploration and production programs at Rice Lake have historically provided employment and economic development opportunities in the Bissett region and, with the support of the MMDF and the Manitoba Government, 1911 Gold will continue to work towards bringing additional growth and prosperity to surrounding communities."

The company received the final payment from Alliance Mining for the $500,000 purchase of the company's 50% interest in the non-core 410 hectare Greenbelt property, with the remaining 50% interest remaining with Greenbelt Gold Mines Inc.

The company also owns the Apex project near Snow Lake, Manitoba and the Tully and Denton-Keefer projects near Timmins, Ontario, and intends to focus on both organic growth opportunities and accretive acquisition opportunities in North America.

The shares are trading at $0.16.

For more information, please visit the company’s website at www.1911gold.com, contact Shaun Heinrichs, President and CEO, at 604-674-1293 or by email at SHeinrichs@1911gold.com.