With interests in about 300-sq-mi of claims, Cominco Resources International Ltd. (TSE) appears to be looking to the Maricunga district to augment its status as a gold producer. The company has a 25.7% interest in the 100,000-oz-per-year Marte heap leach gold mine, where start-up is planned for the second quarter of 1989. And it recently announced a substantial increase in reserves at its 50%-owned Lobo gold project located seven miles away.
Based on work to date, the company estimates inferred reserves at 50 million tons grading 0.045 oz gold, representing a contained resource of 2.2 million oz of gold. Drilling with three machines is continuing on the property, directed to establishing the broad outline of the Lobo deposit. Metallurgical testing is also under way.
Several kilometres south of Lobo, at Cominco Resources’ 50%- owned Valy prospect, a substantial drilling program is planned for early 1989. The company describes the prospect as a large alteration zone with geological and geochemical features similar to those present at both Marte and Lobo.
Cominco Resources International has numerous other projects in its international property portfolio, including a 76.4% interest in the producing Buckhorn gold and silver mine in Nevada. The company is owned 58.6% by Cominco Ltd. (TSE).
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