Belo Sun Mining Corp TSX:BSX announced an updated resource estimate for its Volta Grande Project in Para State, Brazil. The project now has measured and indicated resources of 2.85 million ounces gold at an average grade of 1.69 g/t, and inferred resources of 1.97 million ounces grading 1.7 g/t. This represents a 28% increase in all categories from the old resource.
President/CEO Mark Eaton remarked, “This is an outstanding achievement by the Belo Sun team. When our team started a couple of years ago in 2010, the estimated mineral resources for Volta Grande were approximately 715,000 ounces grading 1.1 g/t gold in the indicated category, and the inferred category was 1,388,000 ounces grading less than 1 g/t. The new mineral resources statement has expanded substantially and the average grade has increased significantly. In addition, the significant increase in measured and indicated categories to almost three million ounces has reduced the geological risks of the project. We believe that Volta Grande may be the premier undeveloped gold project in Brazil and we eagerly anticipate the results of the ongoing feasibility studies that will take the project to a development decision.”
by Ted Niles