Miraflores Deposit: Introduction

The Miraflores Deposit is located within the Quinchía gold mining district and has been the site of artisanal mining since Pre-Columbian times. The Miraflores Deposit is a hydrothermal breccia pipe roughly cylindrical in shape. The drill-tested strike-length of Miraflores is 280 metres by 250 metres with a vertical extent of 600 metres. The deposit remains open at depth and recent geological interpretations indicate that the breccia pipe extends to the southwest and widens at depth.

As of April 2, 2013, Miraflores has a NI 43-101 compliant resource estimate of 1,816,000 ounces of gold in Measured and Indicated grading 0.78 g/t gold (contained in 72,624,000 tonnes at a cut-off grade of 0.27 g/t Au).  Additionally, the resource contains 62,000 ounces of gold in Inferred grading 0.51 g/t gold (contained in 3,756,000 tonnes at a cut-off grade of 0.27 g/t Au).  For further details, please refer to the Company’s press release dated April 2, 2013.  A full technical report is can be found here as well as on the SEDAR.

As of June 19, 2013, Seafield completed an updated Preliminary Economic Assessment (“PEA”) on the Miraflores Deposit.  The independent study was completed by SRK Consulting (Denver).  The PEA highlights robust economics as illustrated by a pre-tax IRR of 23% and an NPV (5%) of $141 M.  For more information, please click here, to read the press release highlighting the PEA. A full technical report will be available on Seafield’s website and on SEDAR, within 45 days of the release of the initial press release.
 

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