Vancouver — Armed with almost $15 million in cash and cash equivalents,
The project is 200 km northwest of the city of San Juan in the province of the same name. Exploration has focused on two zones, the most advanced of which is Quebrada del Diablo (QDD).
The QDD zone hosts a measured and indicated resource of 37.1 million tonnes grading 1.04 grams gold per tonne, or 1.2 million oz., based on a cutoff grade of 0.5 gram per tonne. An additional 11.3 million tonnes of 1.2 grams are classified as inferred.
The nearby Amelia Ines skarn zone hosts a measured and indicated resource of 2.1 million tonnes averaging 2.82 grams gold, or 192,000 oz. Inferred resources at Amelia Ines and the adjacent Magdalena deposit collectively contribute 2.9 million tonnes grading 1.88 grams to overall resources.
Viceroy has sufficient funds to advance Gualcamayo to feasibility, and recently signed a contract with AMEC Americas for engineering studies aimed at incorporating the three main zones.
A separate contract for environmental studies is being negotiated with another consulting company.
Viceroy expects to have the completed feasibility study in hand by the end of this year. Meanwhile, joint-venture partner
Viceroy has other projects in Argentina, at various stages of exploration and development.
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