Cerro Blanco Mineral Resource Increased
VANCOUVER - Bluestone Resources Inc. reported on the Mineral Resource Estimate for Cerro Blanco gold project located in southern Guatemala. The resource estimate is an update to the resource disclosed in the preliminary economic assessment and will be the basis for the feasibility study currently underway.
Highlights (0.4 g/t Au cut-off): Gold Measured and Indicated resources total 3.1 million ounces grading 1.5 g/t, an increase of 142 koz Au over the previous resource; Silver Measured and Indicated resources total 13.4 million ounces of silver grading 6.6 g/t; Measured category resources of 2.4 million ounces of gold and 10.4 million ounces of silver, an increase of 88% to 40.9 million tonnes grading 1.8 g/t gold and 7.9 g/t silver; and Indicated category resources of 0.7 million ounces of gold and 3.0 million ounces of silver, contained within a total of 22.6 million tonnes grading 1.0 g/t gold and 4.2 g/t silver.
Jack Lundin, President & CEO, said, "We are very pleased with this significant upgrade in the mineral resource, which is a culmination of the additional infill drilling completed this year and during the second half of 2020, along with improved understanding and continuous validation of the geology and mineralization. Measured resources have almost doubled from the PEA estimate and now comprise 75 percent of the total ounces, providing a very solid foundation for the open pit reserves calculation and optimized mine plan currently underway as part of the feasibility study. Cerro Blanco is arguably one of the highest grade undeveloped gold projects globally and is in the pipeline as the next big development project for the Lundin Group."