Now blending Cerro Felix 3.15 gpt with other feedstockAt Don Mario the satellite deposit 500 meters away, mixing it with current stockpiles of 1.77 gpt
Cerro Felix Mining:
- Cerro Felix is a satellite mineral deposit located 500 m from the LMZ. The Company published resource estimates effectiveSeptember 30, 2016. Estimates include an indicated mineral resource of approximately 490,000 tonnes grading 3.15 g/t gold, 0.09% copper and 2.53 g/t silver, containing approximately 49,600 ounces of gold, 0.97 million pounds of copper, and 40,000 ounces of silver 1.
- From 2009 to 2011, approximately 207,000 tonnes of ore at an average grade of 1.77 g/t of gold was processed from mineralized zones north-west and south-east of the previously mined Upper Mineralized Zone ("UMZ"), including Cerro Felix.
- Near surface mining activities have been undertaken in recent months. A total of 15,000 tonnes have been extracted and processed as part of a blended plant feed during FY 2017 to date.
- An open pit mine design is currently being finalized, incorporating a recently completed geotechnical evaluation. The Company is aiming to commence pre-stripping activities during Q1 2018.
Mineral Stockpile processing:
- As at September 30, 2016, Don Mario surface stockpiles contained a measured mineral resource of approximately 2.2 million tonnes, grading 1.84 g/t gold and 1.89% copper 2.
- Don Mario has had a successful track record of processing this material as part of a blended feed into the processing plant (approximately 237,400 tonnes in FY 2016 and FY 2017 to date)
- Initial test results have yielded positive indications towards the possibility of producing a copper concentrate from this material, and the Company is now completing further testing to optimize grade.
- The Company has received positive commercial indications from potential third party off-takers for such copper concentrates.