VSE-listed International Musto Explorations has updated preliminary reserve estimates for the Bajo de la Alumbrera copper-gold deposit in eastern Argentina.
The new results incorporate a recent delineation drill program totaling 7,400 metres.
Using a 0.2% copper-only cutoff, Musto reports proven and probable reserves as being 550.7 million tonnes grading 0.518% copper and 0.666 grams gold per tonne (0.019 oz. per ton.). A further 114.4 million tonnes are classified as possible, bringing the total preliminary reserve to 665.1 million tonnes at 0.519% copper and 0.650 grams gold.
Minable reserves (again, at a 0.2% copper-only cutoff) are 508.5 million tonnes at 0.525% copper and 0.676 grams gold per tonne (0.20 oz. per ton), with a stripping ratio of 1.02:1.
Musto said these figures do not reflect mine planning and scheduling, details of which will be available shortly. The project is expected to be a low-cost producer with a payback period of about four years at current prices. Upgrading of infrastructure is required so that concentrates can be transported to ports and smelters.
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