A 775-acre gold property in the Mexican state of Zacatecas has open-pit, heap-leach potential, Menora Resources (ME) reports.
The junior has spent $400,000 on its Estrella del Norte project (also known as El Sultan) and expects to spend another $120,000 before pausing for evaluation purposes. Menora has a 100% interest in a 20-year lease on the property.
Work on one of the property’s concessions has outlined a preliminary reserve estimate of 1.2 million tonnes grading 10 grams gold per tonne to a depth of 400 metres. At least part of the reserve is thought to be amenable to heap leaching.
The company is also considering processing tailings on the property from previous mining as a source of cash flow.
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