Following a review of an in-house resource estimate for the Fortuna property in Mexico’s Durango state, consultant Kilborn Engineering has calculated a new drill-indicated resource.
The deposit is now estimated to contain 5.1 million tons grading 0.27% copper, 0.078 oz. gold and 1.1 oz. silver per ton.
San Fernando Mining (VSE), owner of the property, estimated the resource at 5.3 million tons grading 0.27% copper, 0.084 oz. gold and 1.1 oz. silver. A further reserve study by T.W. Muraro Consulting of Vancouver estimates proven and probable open-pit reserves within the larger resource at 3.8 million tons grading 0.093 oz. gold.
The open-pit reserve estimate is based on 42 holes plus 430 linear feet of underground crosscut channel samples. The larger resource estimate is based on 38,500 ft. of drilling covering a strike length of 700 ft. and a downdip extent of 1,150 ft.
San Fernando expects to resume drilling in the fall with a program of infill and development work in the Fortuna mine area, as well as exploratory drilling on several prospects within the property area.
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