A new resource calculation has added 2.6 million oz. gold and 1.2 billion lb. copper to the Cerro Casale porphyry copper-gold project, situated in north-Central Chile.
The property is held by Arizona Star Resources (AZS-V) and Bema Gold (BGO-T).
The estimate now stands at 27.4 million oz. gold and 7.6 billion lb. copper, based on results from 214 reverse-Circulation (RC) and 73 diamond drill holes.
The previous estimate, released in early April, was calculated from 43 diamond drill holes and 214 RC holes. The deposit remains open to the south and west and at depth. Drilling is ongoing.
Based on a cutoff of 0.4 gram gold, the combined oxide and sulphide resource is estimated at 125 billion tonnes grading 0.68 gram gold and 0.28% copper.
Based on a cutoff of 0.5 gram gold, the resource is estimated at 903 million tonnes grading 0.78 gram gold and 0.3% copper, or 22.5 million oz. gold and 5.3 billion lb. copper.
Based on a cutoff of 0.55 gram gold, the estimate is 785 million tonnes grading 0.81 oz. gold and 0.31% copper, or 20.5 million oz. gold and 5.3 billion lb. copper.
Cerro Casale is on the Aldebaran property in northern Chile. The geometry and topography of Casale allow for low stripping ratios, indicating that a high percentage of the geological resource should be minable.
Arizona Star owns 51% of Aldebaran and Bema controls the remainder. Bema is Arizona Star’s largest shareholder, with a 33% interest, and manages its affairs.
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