Ecuador court gives green light for Silvercorp, Salazar’s El Domo project
The ruling removes the last major obstacle for the $250 million project, located 150 km northeast of Guayaquil.
Vancouver-based Atlantic Gold Corp. has updated reserves and mine life for its Moose River Consolidated gold project. Contained gold is up 27% and the life of the MRC project has been extended to more than 10 years.
Successful drill campaigns at the Touquoy, Fifteen Mile Stream and Cochrane Hill deposits provided the extra ounces. The reserves include 23.0 million proven tonnes grading 1.16 g/t gold, 26.6 million probable tonnes grading 1.14 g/t gold, and 2.4 million tonnes grading 0.57 g/t gold in existing stockpiles. All told, that is 52.0 million tonnes averaging 1.12 g/t gold for 1.9 million contained oz.
“[This] update marks another milestone in the continuation of growing our reserve base at MRC and represents a work in progress. Testing the extension of the high grade shoots at Cochrane Hill, establishing mineral resources at the 149 deposit, and potentially extending the strike to the east, will be priorities for 2019. We also remain very excited about leveraging the value of the potential discovery of multiple additional deposits from our ongoing Corridor regional exploration program.” said Maryse Bélanger, president and COO.
(This article first appeared in the Canadian Mining Journal)
