A prefeasibility study is evaluating a potential
30,000-to-40,000-oz.-per-year gold producer at the Guadalupe de Los Reyes project in western Mexico.
Having identified four epithermal gold-silver vein-breccia zones, Northern Crown Mines (NEW-T) envisages an open-pit, heap-leach operation.
Based on 197 drill holes and a cutoff grade of 0.5 gram gold per tonne, the 1,000-metre-long Zapote zone is estimated to contain a drill-indicated and inferred resource of 5.8 million tonnes grading 1.36 grams gold. The gold resource is pegged at 255,000 oz.
The 88 sq.-km property is 160 km north of Mazatlan in Sinaloa state and centres on 13.7 km of mineralized structure.
Northern Crown has completed more than 35,000 metres in 375 drill holes.
Resource calculations on the three other zones — Guadalupe Mine, Noche Buena and San Miguel-Chiripa — are under way.
President John Brock has said the project has potential for hosting 1 million oz. gold
The prefeasibility study, which is focusing on the Zapote zone, is expected by year-end.
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