Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
After posting a resource update last year for the Roger gold-copper project, 5 km north of Chibougamau, new drill results are giving Enforcer Gold increased confidence in the Mop-II deposit on the property.
Enforcer has released results from 23 holes from its phase 2 diamond drilling program, including:
“We are very pleased with these new results which illustrate a gold-copper high-grade component within lower grade intervals,” said Stephen Dunn, Enforcer’s interim president and CEO. “These new holes will help fine tune the interpretation of the zones, particularly in the northern part of the Mop-II deposit. With an updated model in hand, we look forward to the next steps to further advance the Mop-II deposit and build on the current resource.”
Enforcer – soon to be renamed Pasofino Gold – is earning a 50% interest in the project from Ressources Quebec subsidiary SOQUEM. The company announced the name change in September.
The Phase 2 drilling program at Mop-II aimed to increase the confidence in the inferred resource areas, mainly in the northern and southwestern parts of the deposit. Since the beginning of the option in January 2018, Enforcer has drilled 10,711 metres across 44 holes and one extension of a hole from a previous campaign.
A resource estimate released last year put indicated resources at Mop-II at 333,000 oz. contained gold-equivalent oz. in 10.9 million tonnes grading 0.95 g/t gold-equivalent. Inferred resources add 202,000 contained gold-equivalent oz. in 6.6 million tonnes grading 0.96 g/t gold equivalent.
(This article first appeared in the Canadian Mining Journal)
