Laminco tests Luz del Cobre

Junior Laminco Resources (TSE) is set to proceed with hydrogeological tests on the Luz del Cobre copper deposit at its San Antonio project in Mexico’s Sonora state.

Plans for developing Luz del Cobre as an in situ leaching operation were put on hold earlier this year, while Laminco tested the deposit for associated gold mineralization. Chief Executive Officer Kelsey Boltz says that although an overlying cap contains high gold values, the deposit itself was found not to be enriched.

Luz del Cobre hosts 13.5 million tons grading 0.46% copper, estimated to contain 100 million lb. of recoverable copper. Laminco proposes injecting a weakly acidic solution into the deposit through a series of holes drilled from surface in a grid pattern The pregnant leached solution is to be collected in the extensive, underground workings and pumped to a common collection site.

Using solvent extraction, copper can be extracted and converted to copper sulphate by centrifuge and screening. The total capital cost is estimated at US$2.3 million.

Hydrogeological work will be carried out in the new year to determine the permeability of the rock and the fluid flow rate.

In the meantime, three drill rigs continue to evaluate the potential for bulk-tonnage gold mineralization at San Antonio. Upwards of 10,000 ft. will be drilled by year-end.

Laminco is expanding the Golfo de Oro and Loca areas of the Realito trend, where mineralized, structurally controlled breccia zones occur. To date, 10 holes have tested an area measuring 1,000 by 600 ft.

Results include: 273 ft. of 0.024 oz. for hole RC126; 90 ft. of 0.075 oz. for hole RC127; 160 ft. of 0.14 oz. and 135 ft. of 0.04 oz. for hole RC129; 390 ft. of 0.03 oz. for hole RC131; and 60 ft. of 0.08 oz. for hole C11.

The surface area of interest at Golfo de Oro and Loca is reported to be three times the surface expression of the Central California zone, where a drill-indicated reserve is calculated at 6.9 million tons grading 0.051 oz., based on 35 holes.

The bulk of the gold at San Antonio is sulphide-hosted, although overlying caps of oxides are present.

Boltz says Laminco wants eventually to joint-venture the project.

Work has thus far concentrated on only 5 sq. miles of the 150-sq.-mile property. Operators are looking to define a contained reserve of 1 million oz.

Meanwhile, Laminco, which has 31.4 million shares outstanding and $9 million cash on hand, is pursuing further acquisitions, in Chile.