“We’ve had an ongoing stream of exploration results that we’ve been reporting over the last year in batches—about every once or twice a quarter—with the objective of trying to outline what we have really have this year. We just started the mine back up. It’s a relatively small scale mine at the moment, but we think that if the exploration results continue the way they’ve been drilling that we’ll be in a position to look at expanding this operation. We hope that it turns out to be very big. But it’s a long way to go before we’re sure of that.
“We came back into production on February 1. It’s a 2,600 tonne per day, relatively conventional milling facility to treat the copper-gold ore, which produces a copper-gold concentrate which is sold to third parties. Production will be rising throughout this year as we optimise the operation. The objective of this drilling is to explore the land package we have with a view to justifying expansion in the future. We have a very large land package with excellent geological showings on it, but until you’ve drilled you never really know what you’ve got. It’s in an area quite close to some other very big operations, including Goldcorp’s Peñasquito Mine, and another owned by Carlos Slim.
“We’re very optimistic about this project. We think it’s going to be very exciting over the next several years as we unearth the potential.”
View Press Release Summary
View Company Profile