Junior Aurogin Resources (AUQ-V) has tabled a resource estimate for the El Sastre gold deposit in Guatemala.
Based on a cutoff grade of 1 gram gold per tonne, indicated resources are pegged at 370,000 tonnes running 4.1 grams gold, for 49,251 contained ounces of gold. Another 1.2 million tonnes of inferred material averages 3.1 grams gold, for 117,265 contained ounces.
The resource is contained in an area measuring 300 metres by 500 metres, and is based on assays results from 38 percussion drill holes, 8 reverse-circulation drill holes, and more than 1,000 trench, pit, channel and chip samples.
Last summer, column, bottle roll and percolation test work on a bulk sample from the property yielded gold recoveries exceeding 92%. The column test was run on un-agglomerated, minus 2-inch material, and recovered 97% of the gold in 15 days.
Aurogin CEO John Paterson says the ore grade and excellent leaching characteristics of the material make the deposit a very attractive heap-leach development candidate.
Last August, Aurogin inked a deal to acquire a 50% interest in Rocas el Tambor, Sociedad Anonima, the Guatemalan-based owner at El Sastre. To do so Aurogin must spend US$1 million on the property, pay US$190,000 in cash, and issue 650,000 shares by December 2006.
Aurogin plans to soon file a technical report for El Sastre.
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