“The San Antonio Gold project was Pediment’s virgin discovery. When we first had the project in our portfolio we knew it was an historic resource, so we started drilling and made the discovery further north of the historic resource area. Before 2010 we drilled over 40,000 metres on this project and came up with a 1.65-million-ounce resource. When our pre-feasibility study (PEA) came out, it showed very strong and robust economics, demonstrating that this was a very economical project that could be taken into production. The board of directors then approved a $9.3-million budget for a bankable feasibility study, which is targeted for the end of next year.
“There are a lot of work programs that have to be done before we go to the final feasibility study, which is what we’re doing now. Most of the results today were in the intermediate zone—a 600-metre zone between the Las Colinas and Los Planos zones that has seen very little drilling. These are very good drill results, and we believe that they will enhance our resource base.”
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