The last season of drilling at the Quimsacocha gold deposit in southern Ecuador has expanded the resource on the project by 21% and established that high-grade mineralization is continuous between the northern and southern parts of the deposit.
Owner Iamgold (IMG-T) plans to have another resource figure calculated in early 2007 to incorporate drilling currently under way.
The most recent resource calculation, by consulting firm Scott Wilson Roscoe Postle Associates, puts the indicated resource at 32.6 million tonnes grading 3.2 grams gold and 25 grams silver per tonne, with 0.15% copper. There is also an indicated resource of 4 million tonnes grading 2 grams gold, 15 grams silver and 0.14% copper. Both figures are based on a cutoff grade of 1 gram per tonne and used a database of 62,000 metres of drilling in 276 holes.
The new indicated resource is about 10 million tonnes larger, but slightly lower-grade, than one calculated in October 2005. The inferred resource has also expanded. Much of the new tonnage has been added in the southern part of the deposit and through infill drilling in a central gap between earlier drill campaigns.
New drill programs are planned on four targets outside the currently defined resource: Loma Tasqui, Jordanita, Rio Falso and Quimsacocha Oeste.
Be the first to comment on "Quimsacocha resource grows (September 27, 2006)"