A $2.4-million purchase near its La India property in Nicaragua consolidates mineral rights on a known gold resource and offers Glencairn Gold (GGG-T, GLE-X) a chance to ship ore to its Limon mine.
The property, called Mestiza, adjoins the La India property and is about 70 km east of the Limon mine, which is currently slated to produce 52,000 oz. gold in 2007. The 200-hectare property brings the whole La India land package to 9.7 sq. km.
The new property covers the strike extension of the Tatiana gold vein, already known on La India. An inferred resource has already been defined on the vein, amounting to 690,000 tonnes grading 10.3 grams gold per tonne.
Glencairn plans a feasibility study on mining and trucking ore direct to Limon.
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