An updated resource estimate triples the size of the El Largo precious metals-polymetallic resource, one of several deposits at
The indicated El Largo resource now stands at 4.1 million tonnes grading 1.12 grams gold per tonne, 128 grams silver, 0.4% copper, 5.8% zinc and 1.3% lead, whereas the inferred resource is 1.3 million tonnes grading 1.5 grams gold, 122 grams silver, 0.85% copper, 4% zinc and 0.8% lead.
This estimate uses prices of US$375 per oz. gold, US$5.50 per oz. silver, US$1 per lb. copper, US51 per lb. zinc and US25 per lb. lead.
Drilling at 50-metre spacing has firmed up almost three-quarters of the resource, using data from 87 holes, or 22,770 metres of core.
New results from El Largo include 5 metres grading 3.8 grams gold, 43 grams silver, 0.75% copper and 1.3% zinc starting at 65 metres down-hole. This hole also hit 2 metres grading 1.6 grams gold, 77 grams silver and 2% copper and 1.5 metres grading 1.8 grams gold, 119 grams silver, and 1.2% copper.
Four additional holes failed to cut significant mineralization and a couple of holes cut 1- to 2-metre intervals grading 0.7-3.7 grams gold and 48-75 grams silver per tonne.
The primary El Largo sulphide deposit is more than 700 metres in length, varies from 50-200 metres in width and 10-100 metres in thickness. There are nine smaller bodies that are part of the El Largo deposit.
Elsewhere at Campo Morado, the Reforma, Naranjo and El Rey deposits are being drilled, along with new targets such as G9 and Estrella de Oro.
Drilling on G9 returned 14.9 metres grading 1.06 grams gold, 67 grams silver, 1.76% copper, 0.7% lead and 14.16% zinc, including a 10-metre intercept grading 1.4 grams gold, 91 grams silver per tonne, 1.96% copper, 0.97% lead and 17.9% zinc.
The resource of the El Rey deposit has been given a boost; hole 424 cut 17 metres grading 2.14 grams gold, 201 grams silver per tonne, 0.47% copper, 1.3% lead and 4.8% zinc, and includes 9 metres grading 3.5 grams gold, 281 grams silver, 0.5% copper, 1.65% lead and 5.5% zinc.
Another hole cut 10 metres grading 1.5 grams gold, 57 grams silver, 0.4% copper, 0.6% lead and 4.5% zinc. Three of the El Rey exploration holes failed to cut significant mineralization.
Since August 2004, 101 holes, out of a possible 129, have cut massive sulphides. Twelve holes were drilled for geotechnical purposes and 34 holes tested known zones to garner metallurgical in-formation.
Drilling is ongoing and Farallon plans to complete a prefeasibility study by year-end.
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