Capstone Mining Corp. has announced the results of an updated National Instrument 43-101 (NI 43-101) compliant Mineral Resource estimate for the Cozamin mine in Zacatecas, Mexico.
Compared to the Mineral Resources as at 31 December 2017, this latest estimate converted or added an additional 115 000 t of copper in the Indicated category in the Mala Noche Footwall Zone (MNFWZ), reflecting all drilling for which assays have been received up to 19 March 2018. At a US$42 net smelter return (NSR) cut-off grade (COG), the Cozamin Mine's total Measured and Indicated (M&I) copper Mineral Resources, including adjustments for mining to March 31, 2018, were 217 000 T of contained copper.
"We are extremely pleased with our recent drilling success in the MNFWZ at Cozamin," said Brad Mercer, Senior Vice President of Exploration at Capstone. "This new resource estimate, the culmination of over a year of intensive drilling, nearly triples the ore tonnes and doubles the contained copper in the MNFWZ M&I classification."
"We remain optimistic about the extension of operations at Cozamin well into the future," said Darren Pylot, President and CEO of Capstone. "The increasing copper resource creates the potential for a mine expansion and utilisation of surplus mill capacity that is currently being partially filled using ore from the San Rafael zinc zone. The additional 115 000 t of contained copper added to the M&I class in the MNFWZ will be targeted by mine engineering for potential conversion into mineral reserves in 2018, and Inferred resources will be targeted in 2018 and 2019 for a potential classification upgrade to M&I."
Subsequent to this resource estimate a further 31 holes have been drilled in the MNFWZ and the zone remains open up dip and to the southeast, where the company is continuing 40 000 m of step-out and infill drilling this year on the Inferred class resource, part of its US$7 million 2018 exploration programme. Further drilling is anticipated in 2019.
For the full results, click here.
Read the article online at: https://www.globalminingreview.com/exploration-development/07062018/capstone-mining-announces-significant-increase-to-cozamin-resource-estimate/