A preliminary resource calculation at the Aripuana property in northern Mato Grosso state, Brazil, shows a 7-million-tonne resource in the property’s Valley deposit.
The estimate, done for Ambrex Mining (AMBX-C) by A.C.A. Howe International, gives grades of 6.18% zinc, 2.03% lead, 0.05% copper, as well as 65 grams silver and 0.24 gram gold per tonne. The calculation is based on two drilling campaigns: a 7-hole program performed by Ambrex in 1996 and 1997, and a subsequent program in 1997 and 1998 when the Brazilian unit of Noranda (nor-t) drilled another 11 holes.
The consultants have recommended a 2,180-metre drilling program to test open extensions of the deposit, which lies in Proterozoic felsic volcanic rocks of the Amazon shield. On an adjoining property to the west, the Brazilian subsidiary of Anglo American is drilling off a resource.
Since Noranda dropped its option in April, ownership of the property has been reorganized, with Ambrex assuming the responsibility for property payments of $1.4 million and taking 53.3% ownership through its Brazilian subsidiary, Minerais Rio Taboco. The other property owners, Ourominas Minerals (OMI-T) and St. Genevive Resources (SGVE-C) retain 30% and 16.7%, respectively.
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