The discovery of a low-lying oxide zone on the Aldebaran property in north-central Chile has prompted partners Bema Gold (TSE) and Arizona Star Resource (VSE) to delay completion of an ongoing feasibility study.
The companies expected to complete the study by April but have pushed the date forward to June in order to conduct additional drilling on the deep zone.
Assay results from the zone include: 276 ft. grading 0.027 oz. gold per ton; 597 ft. grading 0.035 oz. gold; 98 ft. grading 0.033 oz. gold; 308 ft. grading 0.031 oz. gold; and 125 ft. grading 0.033 oz. gold.
The new zone lies below the Cerro Casale deposit, which contains a minable reserve of about 104 million tons grading 0.019 oz. gold.
Prefeasibility work indicates potential for an open-pit, heap-leach operation capable of producing 100,000 oz. gold per year at a cash cost of US$245 per oz.
The recent drilling indicates that oxidation on the Cerro Casale deposit may be deeper than previously thought, which could result in an increase in economic reserves.
Bema and Arizona will carry out 20,000 ft. of drilling to test the new oxide zone, as well as attempt to expand reserves in the Cerro Casale deposit.
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