Palmarejo Silver and Gold (PJO-V) has roughly doubled the size of the mineral resource at the Guadalupe silver project in Chihuahua state, Mexico.
A new resource estimate by consulting firm Mine Development Associates calculated an indicated resource of 710,000 tonnes grading 2.15 grams gold and 166 grams silver per tonne, and an inferred resource of 8 million tonnes grading 1.34 grams gold and 136 grams silver per tonne. Both resources were calculated at a cutoff grade of 0.8 grams per tonne gold-equivalent at less than 150 metres depth and 2.5 grams per tonne from 150 metres down.
The previous resource estimate, all inferred, was 5.7 million tonnes at grades of 0.83 gram gold and 106 grams silver per tonne, based on a shallow cutoff of 0.8 grams and a deep cutoff of 3 grams per tonne, with the transition at the 1,300-metre elevation, about the same as the 150-metre depth cutoff.
Gold equivalent grades in silver were set at 1/55 of measured silver grades.
The mineralization at Guadalupe is in a 2-km-long system of quartz veins, which dip to the northeast. Along the vein system are four prospects, Guadalupe Norte, Guadalupe, El Salto, and Las Animas. The mineralization in the veins is zoned, with silver near the surface and gold grades rising at depth.
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