Exploration work by Battle Mountain Gold (TSE) on the company’s 51% owned Kori Kollo gold property in Bolivia has substantially increased minable reserves at the project. Kori Kollo is situated southeast of La Paz in the arid altiplano region about 11,000 ft. above sea level. Ownership is shared with Inti Raymi S.A., the company’s Bolivian affiliate.
Karl Elers, chairman of Battle Mountain, said about 55.1 million tons of minable sulphide ore and 5.7 million tons of oxide ore grading 0.067 oz. and 0.44 oz. silver per ton have been outlined so far.
The orebody remains open in two directions and six drills are still working to define extensions to the deposit.
Elers said the company is currently finalizing a feasibility study. The green light for a US$100- million mine construction program could come by year-end, he said.
Development plans envisage building a 15,400-ton-per-day carbon-in-leach mill to treat sulphide ore. Recoveries are expected to average 63% for gold and 25% for silver, reflecting the refractory nature of a portion of the sulphide mineralization.
The stripping ratio in the open pit would be about 1.2-to-1 and cash operating costs are estimated at US$180 per oz., excluding depreciation, interest on financing, royalties or taxes.
Assuming a positive development decision, construction could begin in early 1991, said Elers, with gold production beginning in late 1992 at a rate of 240,000 oz. per year.
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