Monday, 29th October 2007 (1663 views)

A 51-hole drilling operation at the San Juan mine in Peru has been completed, according to Century Mining.

The company reported that the programme, which began in December 2006 to define the extent of gold resources on the site, made "encouraging intersections" which indicate that the Mercedes and San Juan veins have the potential for extension on the site.

Gold-bearing veins of a grade and width considered to be mineable have been identified to the north-west of current mining areas and Century Mining has expressed its intention to conduct further work on the area to potentially add to its resource base.

Margaret Kent, president and chief executive of the company, said that the resource drilling programme "has been far more extensive" than originally envisioned and that as operations are now complete, Century Mining expects a reserve report to be ready by December.

Formed in 2003, Century mining anticipates that it will produce between 80,000 and 90,000 ounces of gold at its properties in Peru and Quebec, Canada, by the end of the year.

 

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