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Thursday, 25th January 2007 (3300 views)

Golden Eagle International, which is based in Utah, has announced that its operation in Bolivia is currently working towards the confirmation of a new core of gold mineralisation at an area called the C Zone.

Operations began in May 2006 and stopped in October and had been exploring an area of east Bolivia which could provide the basis for initial production works as long as final feasibility and financing works were in place.

Mac DeLozier, Golden Eagle's vice president for Bolivia, said: "This small core of mineralised material in the heart of the C Zone is an important starting point for our feasibility planning."

He said the firm is enthusiastic about its current cost projections for producing gold at the project and that this is due to low fuel and labour costs.

Investigations will now look into bulk sampling data to quantify the so-called nugget effect which is the erratic disposition of gold in a gold deposit and will enable the company to make a sound mineral reserve estimate.

The C Zone has a small surface area of 19.6 hectares which has been tested to a depth of six metres.

 

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