Las Cristinas gold resource on the rise

The mineral resource at the Las Cristinas gold property in southeastern Venezuela has risen to 8.6 million from 7.7 million oz.

A feasibility study by 70%-owner Placer Dome (TSE) is due for completion in the second quarter of next year.

The new estimate encompasses the contiguous Conductora and Cuatro Muertos zones, for a total of 214 million tonnes grading 1.25 grams gold per tonne at a cutoff of 0.7 grams.

Placer estimates 70% of the current resource will be minable by open-pit methods.

Eight other exploration targets near Conductora and Cuatro Muertos are being drilled and the major expects the drilling will likely augment the known gold resource.

Expenditures, including exploration work, are projected at US$22 million.