Gold Producer Boosts 2P Reserves 122% at Mexico Mine20th November 2018
By The Gold Report
Source: Streetwise Reports 11/18/2018
This company continues to explore expansion potential at its open pit and underground mines.
Leagold Mining Corp. (LMC:TSX.V; LMCNF:OTCQX) increased the Proven and Probable mineral reserves at the Los Filos open pit in Mexico by 122%, the company announced in a news release.
The new 2P total as of Oct. 31, 2018, which is for the Los Filos open pit only, is 40.5 million tons with a grade of 0.6 grams per ton and containing 780,000 ounces of gold (780 Koz). Subtracting 99 Koz due to mine depletion between Jan. 1 and Oct. 31, 2018, the total addition to the 2P reserves is 528 Koz. This compares to the previously documented 2P reserves of 351 Koz in December 2017.
“This is just one component of the expanded Los Filos mine, and it provides an indication of the expansion potential,” CEO Neil Woodyer said in the release.
The company noted it continues working to update the reserves for the Los Filos underground and the Bermejal open pit, establish a maiden reserve for the Bermejal underground and evaluate how a carbon-in-leach plant to improve recovery rates might impact the project.
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( Companies Mentioned: LMC:TSX.V; LMCNF:OTCQX,
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