Of course an indicated resources is by no mean an economic reserve, but there is 700,000 oz of gold and more at Mara Rosa:
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Metallica Resources Inc (C-MR) - News Release
Mara Rosa, Brazil resource calculation
1998-01-15 14:05 ET - News Release
Shares issued 22,400,000
Close 1998-01-14 $ 1.90
Mr Louis Lepry Jr reports
A 726,500 ounce in situ geologic resource has been calculated for the Posse mine zone within 100%-owned, 25,000 hectare Mara Rosa gold property in the state of Goias in central Brazil. An independent, Chile-based reserve consultant made the following resource calculations:
Posse mine zone geologic resource at
1 g/t gold cut-off grade
Resource Tonnes Grade Contained
(000s) g/t ounces
Measured 6,385 1.81 372,300
Indicated 4,948 1.67 265,700
Inferred 1,417 1.94 88,500
Total 12,750 1.77 726,500
At a 0.5 g/t gold cut-off grade, the total geologic resource stands at 23.7 million tonnes grading 1.28 g/t gold resulting in a total of 975,000 contained ounces.
The mineralized zone at the Posse mine averages approximately 50m in width and dips 40 degrees. Over 200 drill holes (approximately 20,000m in total) along 1,300m of mineralized strike length were used in calculating the geologic resource. Pre-feasibility study-level operating parameters are now being incorporated into the geologic model to determine the mineability of this deposit.
An additional six target areas have been identified along strike from the Posse mine with similar structural and geochemical characteristics to the Posse deposit. Metallica has budgeted US$1.3 million for the Mara Rosa property in 1998 to better define and explore these six targets. |
