Geomaque to up San Fran output

Having increasing reserves at the San Francisco gold project in Mexico, Geomaque Explorations (TSE) now intends to expand production.

Last year, the company increased minable proven and probable reserves by 52%, raising them to 6.7 million tonnes grading 1.37 grams per tonne from 4.4 million tonnes averaging 1.41 grams. As a result, Geomaque expects to produce 50,000 oz. (1.55 million grams) per year, rather than 30,000 oz. (930,000 grams) as originally planned. This will have the effect of lowering the production cost and increasing profits.

Situated in Sonora state, the mine is scheduled to enter production this summer. First, however, the company must make certain revisions to permits, a process which should be completed by late 1995.

Meanwhile, exploration drilling is expected to continue, based on indications of additional ore along strike.