Found this about the Whistler project:On the 28th Feb. at...

Found this about the Whistler project:

On the 28th Feb. at 3:12:49 PMIRW-News:
GoldMining Inc.: GoldMining founds U.S. GoldMining to promote the Whistler project, AlaskaIRW-PRESS: GoldMining Inc.: GoldMining founds U.S. GoldMining to promote the Whistler project, Alaska(All amounts are expressed in U.S. dollars unless otherwise noted)Vancouver, British Columbia - 28. February 2022 - GoldMining Inc. (the "Company" or "GoldMining") (TSX: GOLD; NYSE-American: GLDG - https://www.commodity-tv.com/ondemand/companies/profil/goldmining-inc/) is pleased to announce that it has founded a new subsidiary, U.S. GoldMining The company's Board of Directors has approved the strategy of conducting U.S. GoldMining through an IPO or similar transaction as an independent public company. Amir Adnani, Chairman, explained: "We acquired the Whistler project in the summer of 2015, when the gold price was $1,000 per ounce and thus almost reached the lowest point of the last bearishness. Today, when the price of gold is moving to $2,000 per ounce and the price of copper to a decade high, optimal market conditions prevail to immediately release a considerable value by founding U.S. GoldMining without diluting the capital structure of GoldMining. The new subsidiary will have a dedicated team and an experienced board of directors to advance this large and exciting project. In addition, we are very encouraged by the current attractive market valuations for gold and copper projects at the resource stage in Alaska, which support a potential reassessment of the Whistler project as a flagship of U.S. GoldMining as an independent company. Finally, our strategy with the establishment of U.S. GoldMining is similar to the plan that we successfully implemented last year with Gold Royalty Corp., which today accounts for about C$100,000,000 in shares on our balance sheet and includes a recently announced quarterly opening dividend of $0.01 per share, which would mean about C$ 1,000,000 in pre-tax dividend income for GoldMining Alastair Still, CEO, commented: "Whistler is a large project in every respect with displayed resources of 3.0 million ounces of gold equivalent and derived resources of 6.5 million ounces of gold equivalent that cover an extensive regional land package. A base camp and a gravel runway were set up for field programs. The last time drilled in Whistler was almost a decade ago, which offers the opportunity to apply new regional geological models and technical knowledge from GoldMining and neighboring companies to unlock value for Whistler, through a dedicated team that applies best practices and is dedicated to the safety, environment and sustainable development of local communities." Whistler ProjectThe Whistler Project is a gold-copper exploration project consisting of at least three well-known deposits located in the Yentna mining district in Alaska, about 150 km northwest of Anchorage, and comprising 304 mining claims of the state of Alaska, covering a total area of about 17,000 hectares (about 42,000 acres). The Whistler and Raintree West deposits are connected to the camp and runway via an access road; the Island Mountain deposit is located 23 km south of the camp and can be reached by helicopter. The Whistler project is located under a volcanic-sedimentary sequence (Jura-Kreide-Kahiltna assembly), which was intruded by the late Cretaceous Whistler intrusion suite with a associated gold-copper porphyry and epithermal mineralization as well as from the late Cretaceous to Paleocene composite Of these holes, 21,132 m were drilled in 52 holes in the Whistler area, 20,479 m in 94 holes in the Raintree West area and 14,410 m in 36 holes in the Island Mountain area. In areas outside the three resource areas, 14,226 m were drilled in 75 holes. Preliminary metallurgical tests indicated that the tested material is suitable for copper extraction by flotation and that the gold can be ground relatively freely. Further metallurgical development and evaluation work is justified. Estimates of mineral resourcesThe following table contains the mineral resource estimate from Whistler's technical report with the reference date 11. June 2021. Deposit In-Situ rating Metal on the spot TonnGoldSilbKupfGold GoldSilbKupfeGold age er Eq er r Eq (Mt)(g/t(g/t(%) (g/t)(Moz(Moz(Mlbs(Moz ) ) ) ) )Displayed resources Whistler 107 Mineral resources for Whistler, Island Mountain and the upper parts of the Raintree West deposit were limited by an open-cast mine with "reasonable prospects for economic mining", based on the following assumptions:- Metal prices of $1,600/oz Au, $3.25/lb Cu and $21/oz Ag; - Usable metal of 99% payable Au, 90% payable 2. The lower part of the Raintree West deposit was limited by a degradable form with "reasonable prospects for economic dismantling" using a cutoff salary of $25.00/t.3. The metallurgical yields are: 70% for Au, 83% for Cu and 65% Ag for Ag levels below 10 g/t. For values above 10 g/t, Ag extraction for all deposits is 0%.4. The NSR equations are: below 10 g/t Ag: NSR ($/t) = (100%-3%)*((Au*70%*$49.273 g/t) + (Cu*83%*$2,966*2204.62 + Ag*65%*$0.574), and over 10 g/t Ag: NSR The equations for the Au equivalent are: below 10 g/t Ag: AuEq = Au + Cu*1,5733 +0.01108Ag, and above 10 g/t Ag: AuEq = Au + Cu*1,57336. The specific weight for each deposit and area ranges from 2.76 to 2.91 for Island Mountain, 2.60 to 2.72 for Whistler with an average value of 2.80 for Raintree West.7. Due to rounding, the numbers cannot add up. For more information about the Whistler project, please refer to the technical report entitled "NI 43-101 Mineral Resource Estimate for the Whistler Project", which will take place on the 11th. June 2021 came into force and with a changed issue date of 29. October 2021. A copy of this report is available on GoldMining's profile at www.sedar.com. Qualified personPaulo Pereira, P. Geo., President of GoldMining Inc. a qualified person according to NI 43-101, supervised the preparation of this press release and has reviewed and approved the scientific and technical information contained therein. About GoldMining Inc. The company is a listed mineral exploration company that focuses on the acquisition and development of gold projects in North and South America. Through its disciplined acquisition strategy, the company now controls a diversified portfolio of gold and gold copper projects at the resource stage in Canada, the USA, Brazil, Colombia and Peru. The company also owns 20 million shares of Gold Royalty Corp. (NYSE American: GROY). For more information, please contact: GoldMining Inc. Amir Adnani, ChairmanAlastair Still, CEOPhone: +1(855) 630-1001E-Mail: [email protected] Europe:Swiss Resource Capital AGJochen [email protected] www.resource-capital.ch Forward-looking statementsThis document Forward-looking statements are based on current expectations, beliefs, assumptions, estimates and forecasts about the business and markets in which GoldMining and U.S. GoldMining operate. Investors are advised that all forward-looking statements involve risks and uncertainties, including the inherent risks associated with the exploration and development of mineral land, fluctuating metal prices, unforeseen costs and expenses, and uncertainties about the availability and costs of the financing needed in the future. These and other risks, including those described in…