Vancouver Western Copper Holding’s (WTC-T) has updated the resource estimates on its Chile Colorado zone on the wholly-owned Penasquito silver-gold-lead-zinc property in Zacatecas State, Mexico.
An independent estimate completed by SNC Lavalin Engineers and Constructors on the Chile Colorado zone estimates an indicated in-situ mineral resource of 118 million tonnes grading 41.85 grams silver per tonne, 0.36 gram gold, 0.38% lead and 0.89% zinc. This is based on a US$4.00 per tonne Net Smelter Return (NSR) cutoff. An additional 58.6 million tonnes grading 28.98 grams silver, 0.31 gram gold, 0.24% lead and 0.69% zinc is classified in the inferred category.
The higher grade core of the deposit above a US$10.00 per tonne NSR cutoff hosts an indicated resource of 40.6 million tonnes averaging 73 grams silver, 0.54 gram gold, 0.60% lead and 1.44% zinc
The NSR values reflect the value of metals recovered after smelting charges and transportation costs are deducted. The base metal prices used for NSR values are US$5.00 per oz. silver, US$325.00 per oz. gold, US$0.23 per lb. lead and US$0.45 per lb. zinc. The mill recoveries, metal distribution, smelting and transportation charges used by SNC Lavalin are conservative estimates provided by Western Copper
Western Copper states that the lower metal grades in the inferred resource category reflect a 90-metre drill spacing pattern and may be expected to increase as a result of in-fill drilling.
The Chile Colorado zone remains open to the southwest, northwest, east and below a depth of 300 meters. The Penasquito project represents an intrusive related silver-gold-zinc-lead mineral system. A total of 142 rotary and core holes (51,743 meters) have been drilled at Penasquito since 1994, including 48 holes (20,462 meters) by Western Copper during 2002.
Western Copper reports that diamond drilling continues in an attempt to better define the Chile Colorado zone and to test other high priority targets in the area. A detailed gravity survey is also in progress.
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