Altavista boosts Santa Anna resource — Company prepares for feasibility study

Drilling by Altavista Mines (AIA-M) has quadrupled the resource base at its Santa Anna property in northwestern Quebec.

Resources now stand at 1.6 million tonnes grading 3.18 grams gold per tonne, compared with 400,000 tonnes grading 3.13 grams gold, calculated in the autumn of 1996. The increase is the result of 5,725 metres of additional drilling, with most of the extra tonnage accounted for by the discovery of the 8 and 10 zones.

Alavista is developing mine plans, in preparation for a feasibility study set to begin in the coming weeks. A further 10,000 metres of drilling are planned, with the first 4,000 metres intended to elevate resources to the proven and probable category.

The final 6,000 metres will test for possible extensions to the 8 and 10 zones, as both remain open laterally and at depth. Together, the two zones, account for more than half of the 150,012-oz. resource.

To date, six mineralized zones have been identified on the property. The new resource figure was calculated using a 2-metre minimum mining width and a cutoff grade of 1.4 grams gold. When a cutoff grade of 3 grams is applied, the resource drops to 600,641 tonnes grading 5 grams gold, equivalent to 88,757 ounces of contained gold.