The Conversation (0)
Colossus Minerals Inc. (TSE:CSI) reports an update on development activities at the Serra Pelada Gold-Platinum-Palladium project, Para State, Brazil.
The press release is quoted as saying:
Additionally, Colossus is pleased to announce that it has finalized plans to extract an initial 2,500 tonne bulk sample from the upper portion of the Central Mineralized Zone (“CMZ”). The aim of the bulk sample is to characterize the distribution of mineralization across different sections of the upper portion of the CMZ.
Colossus Minerals’ President and COO, Randy Reichert says:
“The equipment acquisition secures a key component for the development of the Serra Pelada Project and will not only provide significant savings to the overall capital expenditures of the project, but more importantly will save a substantial amount of lead-time compared to purchasing similar equipment elsewhere, which would normally require up to twelve to eighteen months of delivery time. In addition, the purchase achieves an important step towards the Company’s stated objective of seeing the project commence phase 1 production in 2012.”
Click here to access the entire news release.