Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as “creating”, “pursuit”, “realization”, “plans”, “intends”, “targeting”, “anticipates”, “will”, “would”, “should”, “estimates”, “expects”, “believes”, “indicates”, “suggests”, “further” and similar expressions. This website and documents within this website contain forward-looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Information concerning mineral resource estimates and the interpretation of exploration programs and drill results also may be considered forward-looking statements, as such information constitutes a prediction of what mineralization might be found to be present and economically mineable if and when a project is actually developed. Information from the 2015 Gold Springs PEA update may also be considered forward-looking information. The PEA was prepared to broadly quantify the project’s capital and operating cost parameters and to provide guidance on the type and scale of future project engineering and development work that would be needed to ultimately define the project’s likelihood of a positive feasibility determination and optimal production rate. They were not prepared to be used as valuations of the projects nor should they be considered to be final feasibility studies on which a commercial production decision could be made. The capital and operating cost estimates which were used have been developed only to an approximate order of magnitude based on generally understood capital cost to production level relationships, and although they are based on engineering studies, these are preliminary so the ultimate costs may vary widely from the amounts set out in the PEA. This could materially adversely impact the projected economics of the project. As is normal at this stage of a project, data in some areas was incomplete and estimates were developed based solely on the expertise of the Company’s employees and consultants. At this stage of development the criteria, methods and estimates are preliminary and result in a high level of subjective judgment being employed. There can be no assurance that the potential results contained in the PEA will be realized. Readers are cautioned not to place undue reliance on these statements as the Company’s actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company’s business, or if the Company’s estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that forward-looking statements will materialize.
Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to:
- The risks of the mineral exploration industry which may affect the advancement of the Gold Springs project, including::
- possible variations in mineral resources or grade and metal prices
- availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms
- timely receipt of required permits
- availability of equipment and qualified personnel
- failure of equipment or processes to operate as anticipated
- road access to the properties
- changes in project parameters as plans continue to be refined
- political, regulatory, environmental and other risks of the mining industry
- metal prices
- Other risks more fully described in the Company’s Annual Information Form filed and publicly available on SEDAR at www.sedar.com.
The material assumptions that were applied in making the forward-looking statements in this website or referred in this website include, but are not limited to:
- Execution of the Company’s existing plans and further exploration and development programs for Gold Springs which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such plans or programs, including road access to the property, the timely receipt of required permits for exploration activities, the availability of equipment and qualified personnel, the continuing support for mining by the local governments in Nevada and Utah in the USA, and the availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms to advance the Gold Springs project.
- The accuracy of current mineral resource estimates and interpretation of drill, metallurgical testing and other exploration results. New information or new interpretation of existing information may result in changes in the Company’s expectations.
Subject to applicable laws, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.
Reserve and Resource Estimates
Readers should note that the estimation of quantities of resources and reserves is complex, based on significant subjective assumptions and forward-looking information, including assumptions that arise from the evaluation of geological, geophysical, engineering and economic data for a given ore body. This data could change over time as a result of numerous factors, including new information gained from development activities, evolving production history and a reassessment of the viability of production under different economic conditions. Changes in date and/or assumptions could cause reserve estimates to substantially change from period to period. No assurance can be given that the indicated level of mineral will be produced. Actual production could differ from expected production and an adverse change in mineral prices could make a reserve uneconomic to mine. Variations could also occur in actual ore grades and recovery rates from estimates.
Unless otherwise indicated, all resource estimates have been prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101″) and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards for Mineral Resources and Mineral Reserves (“CIM Definition Standards”). Canadian standards, including NI 43-101, differ significantly from the requirements of the SEC, and resource information may not be comparable to similar information disclosed by U.S. companies. In particular, and without limiting the generality of the foregoing, the term “resource” does not equate to the term “‘reserves”. Under SEC Industry Guide 7 mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. SEC Industry Guide 7 does not define and the SEC’s disclosure standards normally do not permit the inclusion of information concerning “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” or other descriptions of the amount of mineralization in mineral deposits that do not constitute “reserves” by U.S. standards in documents filed with the SEC. U.S. investors should also understand that “inferred mineral resources” have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category. Under Canadian rules, estimated “inferred mineral resources” may not form the basis of feasibility or pre-feasibility studies except in rare cases. Investors are cautioned not to assume that all or any part of an “inferred mineral resource” exists or is economically or legally mineable. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in-place tonnage and grade without reference to unit measures. The requirements of NI 43-101 for identification of “reserves” are also not the same as those of the SEC, and any reserves reported by us in the future in compliance with NI 43-101 may not qualify as “reserves” under SEC standards. Accordingly, information concerning mineral deposits set forth herein may not be comparable to information made public by companies that report in accordance with United States standards.
Additional information related to Gold Springs Resource Corp. is available for viewing on SEDAR at http://www.sedar.com/.
Learn about our Disclosure Policy in our Corporate Governance section.