Completion of a long-awaited feasibility study on the Las Cristinas gold project in Venezuela will be delayed by about six months.
Placer Dome (TSE), which owns 70% of the project, had expected to finish the study this month, but ongoing drilling is expanding a new zone into an area previously designated for project infrastructure.
At last report, the measured and indicated resource at Las Cristinas was about 236 million tons grading 0.038 oz. gold per ton, all of which was contained within the Condcuctora and Cuatro Muertos deposits.
Drilling in the newly discovered Achilles-Cordova zone is meeting with considerable success, with an inferred resource estimated at more than 1 million oz. at “higher-than-average grades.” This resource is expected to expand.
The delay in the feasibility study will allow the joint venture to carry out drilling and metallurgical work on the new zone.
Pending the resolution of development-related talks with the Venezuelan government, a production decision is expected by year-end.
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