Geomaque upgrades projects

Results from a series of 71 near-surface backhoe pits have added a strip of mineralization to the southern extent of the San Roberto zone at Geomaque Exploration‘s (GEO-T) Vueltas del Rio gold deposit in Honduras.

The best results from the 30-by-700-metre strip were from Pit 53, dug to a maximum depth of 5 metres. Grades ranged from 9.41 grams per tonne over 4 metres to 27.12 grams over the final 1 metre.

Vueltas del Rio hosts reserves of 5.1 million tonnes grading 2.5 grams per tonne and is expected to enter production by year-end.

The deposit is 90 km southwest of San Pedro Sula.

Meanwhile, at the deposit known as La Chicharra, just west of the company’s San Francisco gold mine in Mexico, a 20-hole drill program is under way.

The program will focus on expanding and upgrading a zone of near-surface gold mineralization grading up to 3.7 grams over 31.5 metres.

Despite record production at the San Francisco mine in the first half of 1999, cost-cutting has seen the workforce and mining fleet reduced. The cuts were part of an attempt to lower costs to about US$200 per oz.

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