Thursday, 17th April 2008 (442 views)

The discovery of new high-grade gold veins in the Eureka West zone of the Cerro Negro property in Argentina has contributed to boosting the site's resources - and more than doubling its average grade, it has been announced.

Australian exploration company Andean Resources, which is developing the project, said its work had also increased the total mineral resource tonnage for Eureka West by 15 per cent since the previous estimate was issued in October 2007.

Resources for the zone are now put at one million ounces of gold graded at 12.9 g/t gold in the indicated category, with a further 0.34 million ounces of gold graded at 10.7 g/t gold in the inferred category.

Wayne Hubert said there were "several exciting" elements included in the increase in resources for Eureka West, such as the bulk of its mineralisation being contained in a single ore-shoot that remains open to the west.

Another four kilometres of outcropping vein remain open to testing, he added.

Cerro Negro is located on the low level Patagonian plains in the Santa Cruz province on southern Argentina. It sits approximately 160 kilometres north-west of the nearest provincial town, La Heras.

 

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