Ecuadorian Minerals resumes drilling program at Gaby property

Drilling has resumed at the Gaby gold property, 70 km southeast of Guyaquil, Ecuador, and operator Ecuadorian Minerals (TSE) plans to determine grades and tonnages for prefeasibility work.

Ecuadorian expects to finish the drilling in April. It will also test a 5.5-by-1.7-km area of anomalously high gold concentrations, which surrounds the deposit.

The prefeasibility study, scheduled for completion next summer, will include reserve and cost estimates, as well as a metallurgical design. Privately placed purchase warrants are now being exercised, and the company is funding the exploration work from the proceeds. Ecuadorian has received about $1.1 million so far and expects another $3 million by year-end.

The property is being explored under a joint venture of Ecuadorian and Compania Minera Gribipe, the mining subsidiary of Filanbanco, Ecuador’s largest commercial bank.

Print

Be the first to comment on "Ecuadorian Minerals resumes drilling program at Gaby property"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close