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Envirogold samples as high as 87.7g/t gold
Source: News Bites
Rockchip sampling by a consultant at Envirogold Ltd's Papercorp mine, Equador, has shown samples as high as 87.7g/t gold, confirming the project's potential to carry more than 1 million ounces of gold.
Of the first 165 sample results, 25 were greater than 10g/t gold, while another 38 were above 5g/t gold.
The company is earning a 65% interest in the Papercorp and Pinglio underground mines by spending $US6.5 million on the projects over the next two years.
Metallurgical testwork to establish the appropriate processing methods will begin in the short-term, but planned diamond drilling has been delayed a few months, due to government restrictions.
Envirogold plans to expand the mines to a combined production of 100,000 ounces a year.
