Virgin Metals Inc. (CVE:VGM) reports the completion of a resource estimate for its Los Verdes copper-molybdenum deposit, Sonora, Mexico.
The press release is quoted as saying:
This estimate has confirmed the results used as the basis for the company’s 2008 pre-feasibility study and has quantified the tungsten and silver values not included in the 2008 report.
Virgin Metals’ VP of Technical Services, Darren Koningen says:
“With an in-situ value approaching $100 per tonne and a copper equivalent grade of 1.5%, Los Verdes may well represent one of the highest grade copper projects presently under development” “As we move deeper into our review, we see increasing opportunity to substantially enhance this projects profit potential”.