Based on recent drill results and a new pit design, reserves at Geomaque Explorations’ (TSE) San Francisco gold deposit in Mexico have increased by 54%.
Minable proven and probable reserves at the deposit, situated in Sonora state, have increased to 6.7 million tonnes grading 1.37 grams gold per tonne from 4.4 million tonnes grading 1.41 grams.
As a consequence of the drilling, the original three pit designs were enlarged and another small pit added. The planned mine life has been increased to 7.4 from 4.9 years, and the overall stripping ratio is calculated to be 3.16-to-1.
In addition, there are 1.6 million tonnes of inferred material within the pit limits that grades 1.4 grams. This material requires additional definition drilling before it can be included in the minable proven and probable category.
Geomaque considers the exploration potential along strike from the pit areas to be excellent, and is contemplating a new drill program next year to test this potential.
Production from the San Francisco mine is expected to begin during the first half of 1995 at an annual rate of 30,000 oz.
In other news, exploration programs are being carried out on Geomaque’s 500-sq.-km Diapaga and 1,700-sq.-km Barsalogho permits in Burkina Faso, West Africa.
On the Diapaga permit, trenching is under way on an auriferous quartz vein system in the northwestern quadrant of the property. Local artisans are exploiting a vertical quartz vein up to 3 metres wide and exposed over 80 metres along strike. Grab samples of vein material have assayed up to 26.1 grams, while tailings material has yielded values up to 13.7 grams. A reconnaissance geochemical survey over this portion of the property in 1994 outlined a strong gold anomaly with a strike length exceeding 3.5 km. The anomaly is open and widening to the south. Further geochemical sampling is under way on this zone.
A second vein system is also being investigated in the northeastern quadrant of the concession, and a detailed geochemical sampling program is under way in the southern half of the permit.
Elsewhere on the Barsalogho permit, geochemical sampling and prospecting are expected to be completed shortly.
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