Further work on the Reyna property, 30 km southeast of Mazatlan, Mexico, has outlined a geological resource of 33 million tonnes grading 0.5% copper and 0.4 gram gold per tonne.
Cambior (TSE) is earning a half interest in the property from Aurizon Mines (TSE) by spending US$15 million over five years.
The enhanced estimate is based on 40 additional holes drilled by Cambior on a 100-by-100-metre grid. (Copper values from another 48 holes drilled in the late 1980s were included in the calculation.)
Stripping ratios are expected to be low. Aurizon is confident the average gold grade is understated, as Cambior’s drilling was limited to the periphery of the Cerro Pelon deposit.
Copper-gold mineralization is sulphidic, and preliminary results indicate recoveries would be excellent using standard flotation. Cambior has spent US$750,000 on the property to date and plans to carry out further geophysical and regional work before year-end in an effort to outline additional drill targets.
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