Scorpio Gold Corporation (TSXV:SGN) reported on an updated Life of Mine Plan completed for the Drinkwater, Mary/LC, Brodie, Bluelite, Solberry, Wedge and Oromonte deposits at its 70 percent owned Mineral Ridge Gold Operation in Nevada. Results of the update have projected the mine life for Mineral Ridge at 29 months from the end of March of this year.
As quoted in the press release:
The updated mine plan, which includes an updated mineral reserve estimate, projects mine life for Mineral Ridge extending into the 3rd quarter of 2016, or approximately 29 months as of the end of March 2014, the date of the LOM update. Average ore production over this time frame is estimated at 73,700 tons per month (“t/m”) based on estimated Probable Mineral Reserves of 2.1 million tons (“Mt”) grading 0.061 oz/ton gold (131,190 oz contained gold) within estimated Indicated Mineral Resources of 2.7 Mt grading 0.059 ounces per ton (“oz/ton”) gold (160,300 oz contained gold). Expansion and infill drilling of the satellite deposits has continued since the March 31, 2014 cut-off date for the LOM and is expected to add to the resource base and potentially support further conversion of current mineral resources to mineral reserves.
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