Leagold Mining Corp., a new mid-tier gold producer with a focus on opportunities in Latin America, has reported an update of the Bermejal underground mineral resource estimate containing measured and indicated resources of 9.9 million t at a grade of 6.2 grams per tonne (gpt) for 1.97 million oz, plus Inferred resources of 4.8 million t at a grade of 5.4 gpt for 0.82 million oz.
The database used for the updated estimate includes an additional 62 drill holes (16 drilled in 2016 and 46 from the 2017 drill program), as compared to the mineral resource estimates as of 31 December 2016. The majority of the remaining 67 holes planned for the 2017 drill programme are infill and will focus on upgrading additional Inferred resources to Indicated classification.
Neil Woodyer, CEO of LEagold, stated: "This updated resource estimate includes a 94% increase in the Measured and Indicated resources and underscores the magnitude of the oxide mineralisation of the Bermejal Underground deposit. In addition to converting the previously estimated Inferred resources of 678 koz to mostly Indicated resources, the program has also added 820 koz to the new Inferred resource estimate. The exploration success at Bermejal Underground, which drives this resource update, also supports our development plan to expand Los Filos' gold production rate. The ramp to access the Bermejal Underground deposit recently commenced and has advanced 27 metres as of 13 October 2017."