Partners Vanderbilt Gold (VAGO-O), Consolidated Viscount Resources (CVR-V) and Guardian Enterprises (GUD-V) are gearing up for production at the Coloradas concessions in Mexico’s Durango state.
The concessions comprise five past-producing gold-silver mines: Santa Anita, Piedra Bola, Controbando Nuevo, Escandalo and Confital.
Shaft-sinking is in progress at Confital, which remains open at depth.
Exploration continues to search for high-grade pockets.
Ore from four adits is being stockpiled as the partners work to upgrade the 100-tonne-per-day mill.
Annual output is projected at 35,000 oz. gold-equivalent at a cash cost of US$105 per oz.
Leonard Harris, president of Consolidated Viscount, says the deposit contains roughly 250,000 tonnes grading 16 grams gold and “several hundred grams of silver” per tonne.
Vanderbilt owns 17% of the 12,000-acre property, and has an option to increase its stake to 43%. Viscount and Guardian, combined, own 32%, with an option to increase that to 57%.
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