Montreal-based
In preparing the calculation, Met-Chem Canada used data from 3,450 metres of drilling by Sulliden last year, as well as drilling by a previous operator.
Shahuindo is now estimated to host a total resource of 34.3 million tonnes grading 1.03 grams gold and 23.61 grams silver per tonne. Most is classified as indicated; a quarter is inferred.
The previous estimate, by an earlier operator, was 29.4 million tonnes of 0.88 gram gold and 16.2 grams silver.
Sulliden has identified the high-grade gold-silver Breccia zone, as well as five other target areas, since taking on the project in late 2002. These zones remain open in all directions.
The latest resource calculation does not include all the areas drilled to date, including the West zone, where a single hole returned 0.95 gram gold over 30 metres.
New targets are being identified by geochemical sampling and trenching outside of the original grid area, which represents a quarter of the 80-sq.-km property.
Sulliden recently began a second round of drilling at Shahuindo. The 10,000-metre program will test the mineralized zones outlined in the first phase of drilling, as well as newly identified targets.
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