Earlier exploration projects drilled in what is now Constitutions discovery zone. What ore grade was found, what is the size of the gold resource that can be inferred?
Between 1990 and 1992, Sociedad Mineral de Responsabilidad Limitada de Monica de Iquitos (“MDI”), a local Peruvian company, drilled in the five square kilometers of the Monica Discovery Area. The holes were drilled to a maximum depth of 32 meters (105 feet) on a 100 meter by 100 meter grid using 6″churn drills. Subsequently, MDI retained Sojuzkarta (SJK), an independent Russian company, to conduct a technical audit. SJK re-drilled certain of the holes with a 10″ rotary helicoid drill to a maximum depth of 18.6 meters (61 feet). In addition, 85 cubic meters of bulk samples were taken with a backhoe down to a depth of 12.4 meters. SJK’s work confirmed MDI’s results and indicated the presence of 76 million cubic meters of gold-bearing sand and gravel at a grade of 295 milligrams per cubic meter down to a depth of 18.6 meters. Given that the MDI holes indicated increasing grades with depth, it can be inferred that a potential resource of some 1.5 million ounces gold is present in the five-
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- Earlier exploration projects drilled in what is now Constitutions discovery zone. What ore grade was found, what is the size of the gold resource that can be inferred?
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