The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Wednesday, 28th June 2006 (3578 views)

A director and consulting geologist from Golden Eagle International have reported back on progress at the company's Ascension de Guarayos site in Bolivia.

Gene Dunham and geologist Michael H Biste inspected gold and copper deposits earlier in the month and have initiated a three-month programme of investigation.

It is hoped that further exploration at the site will help the company to establish the ideal location for an initial plant to be constructed.

The site hosts two anomalies made up of gold quartz veins and other mineralised matter to an estimated 1.5 million cubic metres.

At present, it is believed that extraction would be possible through open pit mines, with the grade of the product thought to be between 0.6 and 1.0 gram per cubic metre.

Mr Dunham said: "Gold mineralisation occurs in quartz veins and associated hydrothermal alteration in fine grained quartzites, with large numbers of gold occurrences throughout the Golden Eagle claims.

"We are moving forward now to accelerate both the exploration of the company's claims and the review of other opportunities in the region."

The company is based in Salt Lake City, Utah and currently controls mining operations in Bolivia spanning 186,400 acres.

 

« Back to Gold News stories