Esperanza Starts Expansion Drill Program
VANCOUVER, BC - Esperanza Resources Corp. reported that additional drilling has begun at its 100% owned Cerro Jumil gold project in Mexico. The current program will focus on expanding and upgrading the currently defined resource. It will also further evaluate adjacent mineralized targets identified in previous drill programs. Concurrently a detailed mapping and rock/soil sampling program has begun on nearby prospects (within 5 kilometers) contained on the 15,000 hectare claim block.
The company also reported that the previously completed Preliminary Economic Assessment (PEA) (NI 43-101 Technical Report, will be updated to reflect the most recent resource estimate and new metallurgical information currently being completed. The updated PEA will be done by Golder Associates Inc. with Mine Development Associates and Lyntek Inc. providing design and cost estimates for the mine and process areas respectively. Cerro Jumil is an advanced project with over 41,000 meters of drilling, pilot-scale metallurgical work and other completed technical studies. It is currently envisioned as an open-pit, heap-leach gold project. The deposit contains 935,000 gold equivalent ounces classified as measured and indicated plus 233,000 gold equivalent ounces classified as inferred.