The reserve picture at the Omai gold mine in Guyana has suddenly expanded by 20%, a pleased Cambior (TSE) reports.
The proven and probable estimate has increased to 55 million tons grading 0.047 oz. gold per ton from 45 million tons at 0.048 oz. gold. Steeper pit slopes, resulting in lower stripping ratio, is one reason for the increase, the company says (the ratio has dropped to 2.4-to-1 from 3-to-1). Another is the discovery of additional ore from production drilling of the mined benches in the Fennell pit.
The Val d’Or, Que.-based company is operator of the mine and has a 65% interest. Golden Star Resources (TSE) has 30% and the government of Guyana, 5%.
The mine started up in mid-January and Cambior expects to meet or surpass production targets during the second half of the year when it finishes modifying its mill (T.N.M., Aug. 9/93).
Meanwhile, an exploration program is ongoing and minable reserves will be recalculated at year-end.
Be the first to comment on "Cambior ups reserves at Omai"