Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Bluestone Resources Inc. (TSXV: BSR) today released additional results from its ongoing infill resource conversion program at the Cerro Blanco gold project in Guatemala. Highlights include: 19 g/t Au and 44 g/t Ag over 7.9 m; and 8.4 g/t Au and 53 g/t Ag over 9 m.
Based on a feasibility study earlier this year, there are 357,000 ounces of inferred resources (1.4 million tonnes grading 8.1 g/t Au) at Cerro Blanco that could be potentially converted into measured and indicated resources through infill drilling. The focus of the current program is to convert the inferred resources within key veins in the upper part of the Cerro Blanco ore body and vein extensions outside of the current resource.
Cerro Blanco is a permitted, high-grade underground gold project located in southeastern Guatemala, with projected gold production of 146,000 ounces per year over an estimated eight-year mine life.
In addition to Cerro Blanco, Bluestone is also focused on the Mita geothermal project about 60 km from Guatemala City. Mita is an advanced-stage project licensed to produce up to 50 megawatts of power.
Shares of the Vancouver-based company rose by nearly 3% at market close on Wednesday. Its market capitalization stands at C$73.4 million.
