Chariot dumps Nueva California dump
Bnamericas Published: Wednesday, December 03, 2003
Lima-based Chariot Resources (TSX-V: CHD) has decided not to go ahead with a project to process dump material at the Nueva California gold project in northwest Peru's Ancash department, the company said in a statement. "Due to the less-than-favorable results obtained from the metallurgical testwork and volumetric calculations of the dump material it is clear that the profitable retreatment of the material will not be possible," said Chariot. The decision follows a program of 39 reverse circulation holes for 543m and metallurgical testwork resulting in lower than expected tonnage, grades and recoveries, it said. Chariot's subsidiary Andes Resources has an option to process approximately 500,000t of dump material at the Nueva California gold mine. The company said it was now discussing with the mine owners the potential for Chariot to earn an interest in the existing mining operation. The Nueva California mine has been operating for the last 20 years and has treated some 466,5000t of mainly oxide ore grading 7.49g/t gold and 140.4g/t silver.
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