Thursday, 17th April 2008 (731 views)

The president of Soltera Mining has said recent geochemical and structural surveys at the El Torno property in Argentina could "substantially" increase the mineral resources of the site.

Dr Fabio Montanari, who is also the company's chief executive, said the results could add to previous estimates for the site - described by Soltera as a "major golden opportunity" - that say it could host up to two million ounces of gold.

He added that a report carried out in 2000 on El Torno defined a gold target that could potentially yield over 500,000 ounces. This was extrapolated over the length of the gold-bearing system to arrive at the two million ounce figure.

The report added that El Torno's geological make-up is similar to that of the Ballarat and Bendigo goldfields of Australia, which have produced over 20 million ounces of gold each.

Now, Dr Montanari said, Soltera's mapping work could add to this potential resource as it not only extended the site's potential strike length but also identified new and "very strong" anomalies.

"Our objective is to have the El Torno gold project ready to start feasibility studies by the end of 2008," he added.

El Torno covers 7,863 hectares in the Argentine province of Jujuy, near the border with neighbouring Bolivia.

 

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