International engineering firm M3 Engineering and Technology has signed a contract with Creston Moly (CMS-V, CMSJF-O) to complete a bankable feasibility study for the company’s El Creston molybdenum deposit.
The study, to be broken into three phases–scoping, prefeasibility engineering and feasibility engineering–will update resources at the moly deposit, located 135 km northeast of Hermosillo, in Sonora state, Mexico.
Creston is currently conducting a 50-hole, infill diamond-drill program at the site to upgrade inferred resources to the indicated category. The junior hopes to have assay results by May.
M3 has an office in Hermosilla and an understanding of the mine permitting process in Mexico. The company has engineered and managed over $2 billion in mining projects.
The El Creston deposit contains an indicated resource of 92.87 million tonnes grading 0.083% molybdenum for 169.9 million lbs. and an inferred resource of 84.22 million tonnes grading 0.076% moly for another 141.1 million lbs.
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