A production decision is expected this fall for the Marte gold project owned by Cominco Resources and a subsidiary of Anglo American Corp. The decision will follow the completion of a feasibility study which is presently in its final stage. The Marte deposit, which is located in north-central Chile, is owned 25.7% by Cominco with the remainder held by the Anglo American affiliate.
The project hosts reserves of 36 million tonnes grading 1.26 g gold per tonne (0.04 oz). The reserves remain open for extension at depth.
The feasibilty study is considering an open pit heap leaching operation which would initially treat 2 million tonnes per year. Such an operation could be expected to yield approximately 65,000 oz of gold per year, assuming a gold recovery of 80%.
Marte is one of several heap leach prospects held by the joint venture partners in a 345-sq. km area in Chile’s Maricunga area. Cominco’s interests range from 37%-50% in these other projects. At the Lobo deposit, located 8 km south of Marte, shallow drilling has outlined 7 million tonnes grading 1.35 g gold per tonne. Cominco holds a 50% stake in the Lobo ground.
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