Business
Los Verdes Molybdenum Resource Estimated to be 28.5 Million Pounds
Los Verdes Molybdenum Resource Estimated to be 28.5 Million Pounds.
About this update from Minera Alamos Inc.
[{"type":"text","content":"\n\n\n\nTSX Venture Exchange\n\n\nSymbol: VGM\n\n\nShares Outstanding: 58,346,540\n\n\nTORONTO, Dec. 18 /CNW Telbec/ - Virgin Metals Inc. (\"Virgin Metals\")\n(TSX-V: VGM) announces they have received from Chlumsky Armbrust and Meyer LLC\nan updated resource calculation for Virgin Metals' wholly owned Los Verdes\nproperty in Sonora, northern Mexico. The report in which this estimate is\ncontained, which has been prepared to the standards of National Instrument\n43-101, will be filed on Sedar. The qualified persons responsible for the\nreport are Robert Sandefur, geostatistician and Fred Barnard, geologist, of\nChlumsky, Armbrust and Meyer, LLC in Lakewood, Colorado.\n\n\nThe resource is based entirely on the results of Virgin Metal's recent 40\nhole drill program, of which 30 were drilled within the previously-defined\nmineralized zone. It was modeled by both inverse distance squared and kriging\nmethodologies and at a range of molybdenum, copper and combined cut off\ngrades. Both methodologies produced similar results. A block size of 5mx5mx5m\nwas used and a search radius of 100m, as indicated by both copper and\nmolybdenum variograms. Resources are classified Measured if they fall within\n20 metres of a sample point and Indicated if they lie within 65 metres of a\nsample point; these distances were derived from the omnidirectional variogram\nof all molybdenum composites.\n\n\nThe following tabulation represents the resource as calculated by the\nkriging method at a cut off grade of either 0.04% molybdenum or its\napproximate economic equivalent, 0.32 % copper. The tungsten values calculated\nare the contained tungsten using the reported molybdenum or copper cutoff; no\ntungsten cutoff was applied to blocks.\n\n\n-------------------------------------------------------------------------\n Molyb- Tung- Contained Contained\nResource denum Copper sten Molybdenum Copper\nCategory Tonnes % Mo % Cu % W (lb) (lb)\n-------------------------------------------------------------------------\nMeasured\nResources 4,641,000 0.129 0.49 0.088 13,158,000 50,575,000\n-------------------------------------------------------------------------\nIndicated\nResources 5,861,000 0.120 0.43 0.083 15,480,000 54,917,000\n-------------------------------------------------------------------------\nTotal\nMeasured\n&\nIndicated 10,502,000 0.124 0.46 0.085 ...