Donno. That FWR chart looks like many of the others that eventually went on to make many of us a ton of change.
Story from BN Americas on AAS/NGT:
Salamandra could produce gold by year-end - Mexico
Monday, April 08, 2002 10:49 (GMT-0300)
Canadian partners National Gold (CDNX: NGT) and Alamos Minerals (CDNX: AAS) could be producing gold by the end of this year from the Mulatos-Estrella gold deposit on the Salamandra joint venture in northern Mexico, National Gold's exploration VP Bruno Parde told BNamericas.
An infill drilling program in December confirmed a high-grade gold shoot in the Estrella zone, in the heart of the Mulatos deposit, Parde said. As part of the metallurgical testwork being put together, project operators Alamos plan to mine and leach 50,000t of the shoot on a test leach-pad to be built on the site. This will also involve the removal of some 80,000t of overburden. Mine permitting and other relevant paperwork are advancing well, Parde added, and the companies aim to start gold leaching by year-end.
This would allow Salamandra some degree of self sufficiency, with gold sales generating cashflow that could be plowed back into the project's ongoing development, Parde said.
Alamos also plans to take a bulk sample from a deeper area of the Mulatos orebody, and has driven an underground access from which to take it.
The drilling revealed some steeply dipping structures in the Estrella zone, some of which contained gold values of 10-15g/t, according to Parde. Current estimates for Estrella are 11.3Mt grading 3.2g/t gold, although this could change.
Despite the advances, Salamandra is still a long way from full-scale production, Parde said. Alamos and National Gold are still working out a mine plan, and the most economic rate of production. The most likely scenario would start with a small, relatively high-grade operation, which would ramp up later to optimum production levels.
The property also has a number of encouraging satellite targets, including the sparsely drilled El Yaqui, with a 100,000t, 1.8g/t gold resource, open in all directions, and the El Halcon copper-gold target which returned a 12m intercept grading 8g/t gold and another 40m grading 4% copper. There are also several other targets not far from being drill-ready, Parde added.
Before being acquired by National Gold, Salamandra was explored by Canada's Placer Dome (NYSE: PDG) and the Kennecott of the US. Alamos is financing the current development and exploration work as part of its commitment to earn a 50% stake in the property.
By Dean Ilott
BNamericas.com |
