Canadian exploration and development firm Axmin reports that it has had a 30% increase in the measured and indicated resource at its Main zone Passendro project, in the Central African Republic (CAR).
This, together with the company’s updated resources at the Katsia, Baceta and Mbourou zones, represents a 10% increase in the overall resources, while the resource indicates that it is now at two-million ounces of gold, grading about 2 g/t gold.
Further, the company reports that its inferred mineral resource is standing aengineering crushing layoutst about 1,1-million ounces of gold, grading at 1,6 g/t gold. Separately, a low-grade mineral resource estimate at the Main zone has also been completed, which contains an additional 458 000 oz of measured and indicated resource and ag limestone crushers550 000 oz of inferred resource.
The estimate was undertaken by independent consultant SRK Consulting and included 16 500 m of new drilling information gathered since June 2007, mostly at the 5-km long Main zone, where drilling focused primarily ocedarapids 5530 portable roll crushern converting the inferred resources located in the hanging wall and areas along strike into the measured and indicated category. Drilling was also conducted at Katsia, Baceta and Mbourou. The programme was aimed at simplifying the existing pit design and decreasing the overall strip ratio.
The classification of the mineral resource estimate was based on geological continuity, borehole spacing and the results of a detailed variography analysis. The resource estimates have also used different cutoff grades, ranging from 0,8 g/t of gold to 1,2 g/t of gold.
Axmin CEO Mario Caron says that the most important benefit of this current update is the increase in the resource at the Main zone, much of which is located within the first 40 m of the surface.
“This, coupled with the additional lower-grade ounces has the potential to significantly reduce strip ratios. It is expected that this latest development, combined with the robust results from the reduced scale study announced in March this year, should further the economic viability of the Passendro project. “With the recent adoption of the new mining code, it is our understanding that the CAR government will now turn its attention to processing pending applications,” Caron concludes.