The drills have stopped turning at the central Mendez zone of the Cerro San Pedro gold-silver deposit near San Luis Potosi, Mexico, allowing owner Metallica Resources (TSE) to estimate grade and tonnage at the past-producing mine.
Using the polygonal method and a cutoff grade of 0.009 oz. per ton, the company estimates a total measured and indicated gold resource of 2.19 million oz., whereas the geostatistically kriged method yields 1.99 million oz. gold. The two methods yield 50.68 and 50.40 oz. silver, respectively.
In calculating these gold and silver resources, Metallica has thus far considered only the central Mendez zone, where drilling has been completed along a series of 50-metre-spaced drill hole fences, representing about 500 metres of strike length within the broadly mineralized district. Roughly 85% of these resource tons consists of porphyry intrusives, with the balance being hangingwall limestones.
A prefeasibility study for the Cerro San Pedro project will incorporate the geostatistically kriged resource data into an economic model for the open-pit, heap-leach deposit. The study will determine proven, probable and possible reserves as well as the requirements for a feasibility study.
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