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Tuesday, 24th June 2008 (1142 views)

International Minerals has released the report from its Rio Blanco gold project in Ecuador.

Veins in the western part of the Bolivar zone found 30.8 g/t of gold across 2.2 metres.

There are 35 drill core holes in the zone covering 9,736 metres.

Results also include nine g/t of gold across 3.2 metres, 8.6 g/t of gold across 3.6 metres and 12.2 g/t of gold across 3.6 metres.

International Minerals said: "These new drill results show that the mineralisation is continuous across multiple drill cross-sections and is in relatively close proximity to the planned underground development for the proposed Alejandra North mine."

At Rio Blanco, the company has so far predicted proven and probable reserves of 605,000 ounces of gold within 2.15 million tons at an average grade of 8.8 g/t of gold.

In April this year the government of Ecuador temporarily suspended all exploration activity. The drilling programme at Rio Blanco is expected to restart in October 2008.

The mining company also owns 40 per cent of the Pallancata mine in Peru.

 

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