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Monday, 26th September 2005 (7624 views)

Absolut Resources Corporation has announced that it has received a mineral resource estimate indicating a resource of 580,000 ounces of gold in Peru.

The estimate was made by Caracle Creek International Consulting for Absolut's Pico Machay, High Sulphidation Gold Project.

Last year sixteen rock and composite reverse circulation chip samples were tested at ALS Chemex Peru in Lima. Gold recoveries were very good for samples from the oxide zone (91 per cent) and mixed zone (88 per cent). Recoveries from the sulphide zone samples came in at 28 per cent.

President and chief executive of Absolut, Dan Noone, said: "We have now defined an initial resource estimate at Pico Machay upon which we can build."

 

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