Drilling is under way at the Beta Vargas gold property in Costa Rica, Adonos Resources (VSE) and Lyon Lake Mines (ME) report. A 21-hole drilling program is planned to confirm and possibly upgrade a previously calculated preliminary reserve estimate of 7.4 million tons grading 0.034 oz. gold per ton. Lyon is funding the work to earn a 50% interest in the project.
Five holes have been completed. Hole No. 1, at the southeastern extremity of the deposit, intersected 59 ft. averaging 0.035 oz., including 35 ft. of 0.049 oz.
Envisioned by the partners is an open pit operation of 3,300-5,500 tons per day employing a heap leach treatment process.
In northern Chile, Adonos reports the start of field work at its rutile-gold-copper project. The company has the right to acquire a 55% interest in the project and is the operator.
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