Glamis glitters — At Mexican play, a leach test

A bulk leach test will be conducted by Glamis Gold (TSE) at the Cieneguita project in the northern Mexican state of Chihuahua.

Glamis is earning a 60% interest from Aquiline Resources (VSE) by advancing the 600-acre heap-leach project through feasibility to production. Cieneguita contains a drill-indicated reserve estimated at four million tons grading 0.05 oz. gold per ton.

The pad and pond for the 10,000-ton test are under construction and stacking should begin by the end of August.

Aquiline is fortunate to have Glamis as its operating partner, said Aquiline President Irene Wilson. She added that the company’s heap-leaching and operating expertise has been a real boon to the project.

Glamis completed column leach tests earlier this year. Eight columns were loaded with a total of four tons of representative material. The leach times varied from 60 to 80 days and recoveries averaged 78%.

Current reserve estimates are based on previous drilling as well as systematic pit-sampling on a 60-ft. and 120-ft. grid within the drill-outlined oxide deposit. Wilson said Glamis is sufficiently confident in the current estimates, so no further drilling is planned in the feasibility stage.

The oxide reserve, which extends from surface to depths of up to 65 ft., is underlain by a sulphide reserve of undetermined size. Further evaluation will be done later to determine its size as well as its potential leachability. Preliminary estimates put the capital cost of a 2,000-ton-per-day operation at US$4 million. Operating costs are estimated at US$6 per ton, gold grade at 0.043 oz., silver grade at 0.73 oz., and recoveries at 75% for gold and 20% for silver.

Aquiline is also negotiating to acquire two copper-gold projects in Mexico. With the completion of a proposed $300,000 private placement to Glamis, Aquiline will have about $500,000 in working capital and 4.3 million shares outstanding.