Business
Calculation of Inferred Mineral Resource for Colihues Tailings Dam
Calculation of Inferred Mineral Resource for Colihues Tailings Dam.
About this update from Amerigo Resources Ltd
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, March 14 /CNW/ - Amerigo Resources Ltd. (TSX:ARG) (\"Amerigo\"\nor the \"Company\") has, further to its news release of March 7, 2006, received\na technical report entitled \"Technical Review of Operations at Minera Valle\nCentral\" dated March 11, 2006 (the \"Technical Report\") that was co-authored by\nRoger Moss, Ph.D., P.Geo., and Raul Poblete de la Cerda, the General Manager\nof Minera Valle Central (\"MVC\"). The Technical Report contains a summary of\nthe technical and production aspects of the present operations at MVC as well\nas a calculation of the inferred mineral resource in the Colihues tailings\ndam. Amerigo has the right to extract up to 45,000 tpd of feed material from\nColihues, which is located approximately one kilometre south of the MVC plant.\n Dr. Moss, the qualified person under National Instrument 43-101 who is\nresponsible for the Technical Report, has concluded that the Colihues tailings\ndam contained an inferred mineral resource, as of March 7, 2006, of\n213,697,056 tonnes at a grade of 0.262% copper and 0.01% molybdenum, the\nvolume and grades of which corroborate the Company's previous disclosure.\nDr. Moss also concluded that the inferred mineral resource from the Colihues\ntailings dam is more than sufficient to support Amerigo's stated objective to\nextract 45,000 tonnes per day from Colihues for at least the next ten years.\nOver ten years, and based on 365 days per year operation, this rate of\nextraction would only require 164,250,000 tonnes in total from Colihues.\nDetails of the key assumptions, parameters and methods used to estimate\nthe mineral resources in the Colihues tailings dam, a description of the data\nverification process, the results of investigations regarding Colihues, a\nsummary of the interpretation of the exploration information regarding\nColihues and a description of the quality assurance program and quality\ncontrol measures applied during the execution of Dr. Moss' work, are all\ncontained in the Technical Report, a copy of which has been filed on SEDAR.\nFurther to Amerigo's news release of February 21, 2006, Amerigo also\nannounces that it has been issued a receipt from the British Columbia\nSecurities Commission (on its own behalf and on behalf of the securities\ncommissions in Alberta, Manitoba, Ontario and QuDebec) for its final short form\npr...