Feasibility work is continuing at the San Fernando gold property in Mexico.
San Fernando Mining (TSE) released results from infill drilling on the Fortuna deposit, reporting a weighted, average, uncut grade of 0.24% copper plus 2.2 grams gold and 32 grams silver per tonne over widths ranging from 1.2 to 152 metres.
The recent drill results will be used in combination with previous results to support reserve calculations for the proposed open-pit project.
Following last year’s drilling, an independent consultant estimated the proven and probable resource at 3.4 million tonnes grading 3.18 grams gold.
San Fernando estimates the geological resource for Fortuna at 4.7 million tonnes grading 2.67 grams gold and 37.7 grams silver, plus 0.27% copper.
The deposit lies within the dip slope of a ridge and measures roughly 300 metres along strike, 350 metres downdip, and about 37 metres in thickness within the central part of the zone.
Metallurgical work on a bulk sample is continuing.
Previous test work indicates that gold recoveries of more than 90% can be achieved using standard gravity flotation methods.
San Fernando expects to complete the feasibility work by the first quarter of 1996.
The company remains well-funded with about $8 million in working capital and about 13.7 million shares outstanding.
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