Tuesday, 31st July 2007 (2172 views)

Colorado-based mining company Canyon Resources has increased its gold mineralisation estimate for its Briggs mine in California.

According to Canyon, new drilling interpretations in relation to an underground Goldtooth structure at Briggs have upped the estimate by roughly 34 per cent.

Total in-place mineralised material in the high-grade Goldtooth zone is estimated at 0.8 million tons at a grade of 0.215 ounces per tonne of gold - based on a cutoff grade of 0.10 ounces per tonne.

"The Goldtooth structure continues to prove its potential as a significant source of gold mineralisation. This new mineralised material estimate, combined with past production and our previously announced estimates of mineralized material for Briggs and its satellite deposits, clearly demonstrates that the Briggs mining district has multi-million ounce potential," commented Canyon president James Hesketh.

The high-grade Goldtooth zone is bordered by a blanket of lower-grade material, tallying 4.2 million tonnes at a grade of 0.049 ounces per tonne, by means of an internal cutoff grade of 0.02 ounces per tonne.

Total in-place mineralised material at Briggs is now 27 million tonnes at a grade of 0.031 ounces per tonne.

 

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