Deep drilling on the Aldebaran property in north-central Chile is confirming the presence of a high-grade oxide deposit below the known Cerro Casale deposit.
As a result, joint-venture partners Arizona Star Resource (VSE) and Bema Gold (TSE) believe minable reserves will be higher in volume and grade than previously thought.
Prefeasibility work outlined a minable reserve of 104 million tons grading 0.019 oz. gold per ton.
Subsequent drilling encountered the deep oxide zone below the Cerro Casale deposit, and a more recent 20,000-ft. program of deep drilling returned several wide intersections. Depths ranged from 400 to more than 900 ft., with one of the better holes returning a 427-ft. intersection grading 0.038 oz. gold.
The prefeasibility study envisages a 16,500-ton-per-day open-pit, heap-leach operation. Annual gold output is projected at 100,000 oz. The initial capital cost is estimated to be US$45 million, while the cash cost for production is pegged at US$245 per oz.
A full feasibility study is expected in late June.
Results from the recent deep drilling are as follows:
HoleIntervalWidthGold
(ft.)(ft.)(oz./ton)
CC-102407-1,1026950.035
CC-103886-1,3584720.029
CC-108538-1,1486100.033
CC-109532-1,1426100.025
CC-114564-8793150.026
CC-123558-9253670.022
CC-124538-1,0244860.025
CC-125656-1,0834270.038
CC-165945-1,2202750.031
CC-166636-1,0113740.021
Be the first to comment on "Bema, Arizona Star expand Cerro Casale"