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Friday, 31st October 2008 (1053 views)

Andean Resources has stated that it has started a bankable feasibility study on its Cerro Negro gold project in Argentina.

The company claims that previous research by engineering firm Ausenco Services indicated that the property could deliver as more than 1.3 million ounces of gold in six years.

Mining operations at the site are expected to commence in 2011 and a major expansion and infill drill programme is currently underway as part of Andean’s fifth drill season.

Proven and probable reserves at the site are estimated at 1.5 million ounces of gold, with additional inferred resources of 0.7 million ounces of gold.

Located in the southern Argentinean province of Santa Cruz and acquired from MIM in January 2004, Cerro Negro is at an elevation of approx 800m above sea level.

Australia’s Andean Resources is a dual listed public company that focuses on the exploration and development of gold projects in Patagonia, Argentina and the firm’s major project is the 100 per cent owned Cerro Negro epithermal gold deposit.

 

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