Timmins Gold's San Francisco at 1.57 moz Au M+I
Timmins Gold's San Francisco at 1.57 moz Au M+I
2012-03-14 07:23 ET - News Release
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Mr. Bruce Bragagnolo reports
TIMMINS GOLD CORP ANNOUNCES UPDATED RESOURCE ESTIMATES FOR THE SAN FRANCISCO GOLD PROJECT
Timmins Gold Corp. has provided an updated resource estimate for the San Francisco gold project in the state of Sonora, Mexico. The last update was announced on September 20, 2011.
The mineral resource estimate was audited by Micon International Limited (Micon) of Toronto, Ontario, using the Canadian Institute of Mining ("CIM") definitions for Mineral Reserves as required by NI 43-101. The updated mineral resource for the San Francisco Project which includes the nearby La Chicharra open pit is derived from information obtained from a drill program of 370 holes of core and reverse circulation drilling totaling 85,166 metres completed between July, 2011 and November, 2011. The past producing La Chicharra open pit is located 1.5 kilometres west of the San Francisco open pit.
The drill program added 134,000 ounces of measured and indicated resources (net of depletion) and 346,000 ounces of inferred resources which represents a 34% increase to the inferred resource.
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