Eldorado boosts La Colorada tonnage

Development drilling at La Colorada mine property near Hermosillo, Mexico, is proving successful for owner Eldorado (TSE).

The proven and probable mineral resource is now estimated at 12 million tons grading 0.041 oz. gold per ton in two zones: El Creston and Gran Central. Both deposits remain open on strike and to depth.

Mineralization between El Creston and Gran Central extends along strike for about 2,600 ft., and it is believed the trend could potentially host a further 11 million tons of a similar grade.

Eldorado began open-pit, heap-leach mining at La Colorada in January of this year, and expects to produce 22,000-24,000 oz. before year-end at a cash cost of US$153 per oz.

Drilling is continuing, with three rigs in operation. Next year, Eldorado hopes to boost production to 75,000 oz. annually.