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Rio Alto Mining Limited (TSX:RIO,NYSE:RIOM) announced in 2014 it added 223,500 gold ounces to P&P reserves at the La Arena oxide mine. The company also included information on additional reserves for its phase II copper-gold project.
Rio Alto Mining Limited (TSX:RIO,NYSE:RIOM) announced in 2014 it added 223,500 gold ounces to P&P reserves at the La Arena oxide mine. The company also included information on additional reserves for its phase II copper-gold project.
According to the press release the key highlights of the year’s update are as follows:
With a year-end oxide reserve of 1.28MM oz at a very low strip ratio of 1.42:1, La Arena is positioned to continue as a major low-cost gold producer for a minimum of 6 years. With the Calaorco orebody still open to the northwest, the Company hopes to continue adding heap leach mine life with further exploration.
Oxide resources at La Arena increased during 2014 based on a successful reverse circulation drilling campaign. A total of 22,087 meters were drilled at 298 holes in the Calaorco area and the oxide intrusive zones. The major changes in the oxide resource model for 2015 are:
- The addition of additional gold oxide resources on the western side of the Calaorco deposit and at depth.
- Extending the depth of the Indicated oxide resource by between 20 and 100m.
- The identification of additional high-grade Tilsa-style domains at Calaorco.
Click here to read the full Rio Alto Mining Limited (TSX:RIO,NYSE:RIOM) press release.