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Leagold announces increase in Proven and Probable minerals reserves at Los Filos

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Global Mining Review,

Leagold Mining Corp. has announced an increase of the Proven and Probable mineral reserves (P&P reserves) at the Los Filos open pit in Mexico to 40.5 million t grading 0.60 g/t containing 780 000 oz of gold as of 31 October 2018.

This represents a 122% increase over the 31 December 2017 estimate of 351 000 oz. After accounting for mining depletion of 99 000 oz from 1 January to 31 October 2018, the total addition to the Los Filos open pit P&P reserves is 528 000 oz. This reserve update does not reflect changes to the Bermejal open pit or Los Filos underground mining areas, or potential additions from the Bermejal underground deposit.

Leagold CEO, Neil Woodyer, commented: “As we are nearing the completion of our site-wide studies on options for Los Filos mine expansion, the integration and scheduling of the mining and processing of the four sources of ore is a complex task to optimise. We now have the good problem of re-scheduling to include this significant increase in gold reserves at the Los Filos open pit which will contribute to the production schedule until 2027. This is just one component of the expanded Los Filos mine, and it provides an indication of the expansion potential. We are also completing studies to update the mineral reserves for Los Filos underground and Bermejal open pit, establish an initial mineral reserve for Bermejal underground, and evaluate the increased benefits of constructing a carbon-in-leach plant to improve recovery rates.”

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