Antioquia Gold is preparing for the significant progress at the Cisneros project to improve the objective of production.
Cisneros Project - Regional Exploration Targets
The company has discovered six new exploration targets during the regional exploration activities, which are identical to the size of the Manuela and Guayabito prospects and Los Planes is one of the target that is ready for drilling. It has drilled 11,000 m in total, out of the proposed 15,000 m at the two prospects during the ongoing 2011 drilling program. The combination of this program results and former drilling results will determine the potential mineral resource for a NI 43-101 compliant report, which is to be prepared before the year end.
The program including planning, permitting and accomplishment of the exploration tunnels is continuing with the ground work, which is planned to commence within the fourth quarter of the year. These tunnels are essential in further defining mineral resources, providing grade control and producing a bulk sample for metallurgical testing.
Antioquia is conducting work along with an internal scoping study for an underground gold operation of 350-500 t per day. It has completed initial metallurgical studies and also plant costs and process flowsheets. The selection of equipment and mine planning has started and will be processed after the completion of the potential mineral resource estimate. At present, the company is in negotiation with many potential joint venture partners for numerous Strategic properties, which is situated in the Cauca porphyry belt.