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Calvista Gold Corporation (TSX:CVZ,OTCQX:CAGOF) announced an increase in the Company’s mineral resource estimates for both the Callejón Blanco and Buenavista prospects at the completion of a new technical report. Indicated mineral resources for the Callejón Blanco and Buenavista prospects totalling 4.03 million tonnes grading 3.49 grams per tonne (“g/t”) of gold and 15.77 g/t of silver using a cut-off grade of 2.0 g/t of gold (approximately 452,218 ounces of gold and 2,045,770 ounces of silver).
As quoted in the press release:
Highlights of the new technical report:
- Indicated mineral resources for the Callejón Blanco and Buenavista prospects totalling 4.03 million tonnes grading 3.49 grams per tonne (“g/t”) of gold and 15.77 g/t of silver using a cut-off grade of 2.0 g/t of gold (approximately 452,218 ounces of gold and 2,045,770 ounces of silver);
- Inferred mineral resources for the Callejón Blanco and Buenavista prospects totalling 3.77 million tonnes grading 3.71 g/t of gold and 15.84 g/t of silver using a cut-off grade of 2.0 g/t of gold (approximately 449,023 ounces of gold and 1,917,866 ounces of silver);
- Plus Inferred resources defined inside a silver-rich mineralized zone at the Callejón Blanco prospect totaling 5.59 million tonnes grading 18.38 g/t silver and 1.75 g/t gold using a cut-off grade of 10.0 g/t of silver (approximately 314,402 ounces of gold and 3,302,121 ounces of silver);
- The Callejón Blanco and Buenavista targets remain open to expansion at depth;
- The highest point of our mineral resources occurs more than 500 metres below the Páramo ecosystem elevation limit of 3,200 metres above sea level; and
- The new technical report and mineral resource estimate was completed by independent expert and Qualified Person, Dr. Vadim Galkine, Ph.D., P. Geo., and is based upon 49 diamond drill holes totaling 20,043 metres.
Calvista Gold Chief Executive Officer Mark Haywood said:
The Company is extremely pleased to report a significant increase of its mineral resources on the La Mascota trend as a result of its Phase II drilling. The new technical report confirms a significant mineral resource increase with more than half the estimate now upgraded to an Indicated Resource. The Company has also defined a number of distinct silver-rich mineralized zones adjacent to our primary gold zones that enhance our overall mineral resources for the project.
Click here to read the Calvista Gold (TSX:CVZ,OTCQX:CAGOF) press release
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