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Bluestone building gold resource base in Guatemala

Bnamericas
Bluestone building gold resource base in Guatemala

Bluestone Resources has further expanded gold resources at its Cerro Blanco project in Guatemala as it pushes on toward a feasibility study.

Gold measured and indicated resources contain 3.1Moz at a grade of 1.5g/t, up 142,000oz over the previous estimate, the company said in a release.

Silver measured and indicated resources total 13.4Moz at 6.6g/t.

In the measured category, total resources were 40.9Mt of material – up 88% – containing 2.38Moz gold and 10.4Moz silver, with grades at 1.8g/t gold and 7.9g/t silver.

“Measured resources have almost doubled from the PEA estimate and now comprise 75% of 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,” CEO Jack Lundin said.

The PEA, announced in February, doubled the production profile of Cerro Blanco.

The study showed initial capex of US$548mn for an open pit mine producing an average of 231,000oz/y gold over an initial 11-year mine life, with life-of-mine silver output of 10.3Moz.

Bluestone is advancing an environmental impact assessment application and plans to complete a feasibility study by early 2022.

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