Estimate up Sydney-based miner Austral Gold has reported an updated mineral reserve and resource estimate for the company’s Guanaco- Amancaya gold-silver project in Chile.
“Proven and Probable Mineral Reserves for the Guanaco-Amancaya Op-eration are estimated to be 12.1 Mt grading 0.84 g/t Au and 4.89 g/t Ag and containing 0.326 million ounces … Au and 1.91 M oz Ag. The Heap Reprocessing material provides the majority of the increase from previous estimates,” the Australian business said in a statement.
Stabro Kasaneva, the company’s CEO, commented that the “Heap Re-processing project is expected to utilize excess processing capacity to provide a solid long-term basis for mine operations, covering costs and providing a return at current financial inputs. Opportunities for higher-grade ore sources from exploration or acquisition could be easily inte-grated into the Life of Mine plan, and would benefit from lower unit costs.”