Partners Votorantim Metais and Karmin Exploration (KAR-V, KRMEF-O) now have a mineral resource estimate for the Arex and Ambrex (Valley) massive sulphide deposits in northern Mato Grosso state, Brazil.
The estimate was made by the Chilean branch of international mining consulting firm AMEC.
The indicated resource on Ambrex is 18.3 million tonnes grading 4.03% zinc, 1.52% lead, 0.9% copper, 0.18 gram gold and 35.6 grams silver per tonne. On Arex, there is an indicated resource of 9.4 million tonnes at grades of 2.54% zinc, 1% lead, 0.58% copper, 0.45 gram gold and 34.7 grams silver per tonne.
The Ambrex resource is based on cutoff net smelter return values suitable for underground mining by long-hole stoping or, in narrow areas, cut-and-fill. Arex, expected to be mined by open pit, has a cutoff grade derived from base costs of US$1.22 per tonne for mining and US$6.44 per tonne for processing.
Another 5.8 million tonnes, grading 3.61% zinc, 1.32% lead, 0.24% copper, 0.27 gram gold and 35.3 grams silver per tonne, is in the inferred category.
There is additional oxide material overlying Ambrex, which was not part of the estimate. There is also potential for more resources at the Babacu and Mocoto deposits east of Ambrex.
Votorantim has 70%, and Karmin 30% of the project, with Karmin’s interest carried up to the completion of a final feasibility study. Additionally, Karmin holds a 100% interest in any gold produced from the oxide zone over Ambrex.
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