Vancouver — An ongoing drill program by
Results were released from 19 recently drilled holes, with the highlight being Hole 05-148, which returned 2.3 grams gold per tonne over 68.1 metres, from 223.7 metres to 291.8 metres. This intersection also produced some higher-grade intercepts, such as 36 metres grading 9.7 grams gold, which includes 12.4 metres of 25.3 grams gold.
The bulk of the remaining holes returned grades in the 1- to 2-gram range over core intervals ranging from a few metres up to 68.1 and 59 metres, with plenty in the 10- to 20-metre range.
Two of the holes hit gold mineralization at a hole depth of more than 500 metres, confirming a downdip extension of 450 metres for the zone. One of the holes returned 8.2 metres of 2.8 grams and 4.2 metres of 2.1 grams, while the other intersected 7.7 metres of 1.8 grams gold.
Southwestern has five rigs on the property, with two more scheduled to start turning in March. Four will be moved to the Boka 7 zone, about 3 km on strike to the south of Boka 1, for a 200 by 100-metre-spaced drilling program. Only 11 holes have been drilled at this target in recent years, with 10 intersecting mineralization over a strike length of more than 1 km.
The ongoing drill program at Boka 1 and Boka 7 is part of a prefeasibility study designed to generate new resource and reserve estimates, and various engineering and environmental studies related to potential mine development.
A previous “first-pass” study examined an open-pit operation that would produce 200,000 oz. gold annually, at cash costs averaging US$143 per oz., for at least a decade. Capital costs ranged from US$139 million to US$235 million, while the strip ratio was estimated at 6.7:1 waste-to-ore. The proposed mine plan was based on indicated resources of 5.1 million tonnes at 2.93 grams, or about 480,000 contained ounces, plus a further 18.1 million tonnes at 2.93 grams in the inferred category, for an additional 1.71 million contained ounces.
Southwestern has a 90% interest in Boka, and interests in various other mineral projects, notably in Peru. The company is reviewing options to “maximize the value” of its Accha zinc project, where a prefeasibility study is under way. The project has metallurgical similarities to the Skorpion zinc project in Namibia, and is considered amenable to the “Skorpion process,” modified to suit Accha mineralization.
Southwestern also owns the Minacassa zinc project in southern Peru, a large zinc-copper system in the northwestern portion of the Tintaya-Bambas fault, along with interests in the Antay copper-gold project and the Liam gold-silver project, both joint ventures with major companies.
Be the first to comment on "Southwestern extends Boka 1 zone"