Recently completed drilling on the Bajo de la Alumbrera copper-gold project in northwestern Argentina has International Musto Exploration (TSE) confident that reserves and grade will be increased.
Minable reserves are now 370 million tons grading 0.53% copper and 0.02 oz. gold per ton. But International Musto believes reserves and grade will be increased in a new reserve estimate, to be completed in the next 30 days. The company can earn a 100% interest in the project, subject to a 20% net profits interest, by paying US$5 million, funding all feasibility work and arranging financing.
Recently completed drill holes 42-50 and 44-50, in conjunction with other nearby holes, help confirm the presence of a high-grade zone in the southwest area of the deposit.
Recent results are as follows:
Hole Interval Width Copper Gold
(ft.) (ft.) (%) (oz./ton)
42-50 0-807 807 0.48 0.02
807-1,181 374 0.75 0.04
1,181-1,319 138 1.17 0.06
44-50 59-384 325 0.48 0.03
384-1,024 640 1.15 0.08
1,024-1,309 285 0.58 0.04
45-55 30-886 856 0.49 0.03
49-51 20-305 285 0.38 0.02
305-1,297 992 0.7 0.04
49-60 59-1,099 1,040 1.09 0.05
1,099-1,314 215 0.42 0.02
51-56 353-823 470 1.00 0.04
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