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Update on Evaluation of Copper Flat Project, New Mexico, USA
Update on Evaluation of Copper Flat Project, New Mexico, USA.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \n \n Update on Evaluation of Copper Flat Project, New Mexico, USA\n \n \n\n \n Mercator Gold Plc\n \n \n \n\n \n \n \n MERCATOR GOLD plc(“Mercator Gold”, “Mercator” or “the \n Company”)\n \n \n AIM: MCRUS OTC: MTGDY\n \n \n Mercator Gold plc is pleased to provide an update on its evaluation of \n the Copper Flat project, located in New Mexico, USA. Mercator holds an \n exclusive option over the Copper Flat project.\n \n \n Highlights\n \n \n \n Two drill rigs mobilised to site; drilling to commence following \n receipt of minimum impact drilling permit from New Mexico Energy, \n Minerals and Natural Resources Department.\n \n \n Assaying of historic drill core and pulp residues underway; results so \n far show good conformity with historic drill results used for \n estimation of the project’s historic reserve of 45.5 million metric \n tonnes grading 0.45% Cu, 0.015% Mo, 0.15g/t Au and 2.25g/t Ag (cut-off \n grade 0.23% Cu).\n \n \n Assay results include 1.25% Cu, 0.01oz/t (0.31g/t) Au, 0.024% \n Mo and 0.13oz/t (4.04g/t) Ag over a 109.5 metre intercept and \n 0.64% Cu, 0.005oz/t (0.155g/t) Au, 0.017% Mo and 0.074oz/t (2.30g/t) \n Ag over a 246.6 metre intercept.\n \n \n SRK Consulting is directing work at Copper Flat in advance of the \n preparation of a Preliminary Economic Assessment of the project.\n \n \n \n Update\n \n \n The work programme being undertaken by Mercator at Copper Flat is \n designed to culminate in the completion of a Preliminary Economic \n Assessment (“PEA”) of the project by SRK Consulting (“SRK”).\n \n \n SRK, along with Pincock, Allen & Holt (“PAH”) completed substantial work \n on the Copper Flat project from 1994 to 1999 on behalf of Alta Gold. \n During this period: a draft Environmental Impact Study (“EIS”); a formal \n Plan of Operations as directed by the Federal Bureau of Land Management \n and the New Mexico Energy, Minerals and Natural Resources Department; \n and formal audits of the historical reserve to satisfy Securities & \n Exchange Commission (“SEC”) requirements were completed.\n \n \n Six HQ-sized drill-holes totalling approximately 6,000 feet are planned \n by Mercator at Copper Flat. These holes have been sited in relation to \n the planned open pit to provide data for grade control and more specific \n geotechnical confirmation and additionally evaluate the opportun...