M’Ore Exploration Services performed the calculation following a 20,000-metre campaign of infill drilling between December 1998 and August 1999 (T.N.M., June 28-July 4/99). The estimate was then audited independently by Watts Griffis & McOuat.
From surface to a depth of 930 metres, combined indicated and inferred resources in the Lens 2 massive sulphide and the Upper West zone now stand at 11.4 million tonnes grading 6.08% zinc, 0.94% copper and 0.45% lead, plus 0.45 gram gold and 24.4 grams silver per tonne.
Indicated and inferred resources in the underlying copper stringer zone are pegged at 11.7 million tonnes grading 1.79% copper, 0.48% zinc, 0.57 gram gold and 11.96 grams silver.
The recalculations were based on cutoff grades of 1.5% copper (previously 1%) and 4% zinc (2%).
Goldcorp’s former president, Rolando Francisco, has been appointed Foran’s president and chief executive officer, Stephen Masson has been made chairman, and Terry MacGibbon and Stephen Davies have become directors.
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