Posted in | News | Gold

Golden Phoenix Receives Initial Resource Estimate at 669,000 Ounces Gold

Golden Phoenix Minerals Inc. announced that it has received the initial resource estimates for the Santa Rosa gold mine.

The Sparks, Nevada based mining company had mining consultant SRK draw up the report. SRK is currently preparing a NI 43-101 technical report on the property. SRK offers exploration, feasibility, mine planning and mine closure services.

Located in Panama the Santa Rosa project was previously operated as an open pit heap leach operation that mined gold and silver. The production at the mine was shut down due to low prices of gold in 1999. Golden Phoenix Panama, S.A., the joint venture entity that owns and operates the Santa Rosa gold mine has now decided to make a profit from the currently upward spiraling gold prices.

John Bolanos, the Vice President of Exploration for Golden Phoenix said that in addition to SRK's inferred resource estimate of 669,000 contained ounces of gold, the Santa Rosa project has an additional unspecified volume of mineralized material on former heap leach pads throughout the property. They expected to begin assessing this additional material in the near future.

Golden Phoenix released a statement saying that it intended to advance the project to production in an orderly fashion. This would include a survey controls to guide a drilling program, metallurgical testing, verification of potential mineral resources in the partially leached historical heaps and also a preliminary economic assessment for the property.

Joel Scanlon

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Scanlon, Joel. (2019, March 19). Golden Phoenix Receives Initial Resource Estimate at 669,000 Ounces Gold. AZoMining. Retrieved on July 22, 2024 from https://www.azomining.com/News.aspx?newsID=5689.

  • MLA

    Scanlon, Joel. "Golden Phoenix Receives Initial Resource Estimate at 669,000 Ounces Gold". AZoMining. 22 July 2024. <https://www.azomining.com/News.aspx?newsID=5689>.

  • Chicago

    Scanlon, Joel. "Golden Phoenix Receives Initial Resource Estimate at 669,000 Ounces Gold". AZoMining. https://www.azomining.com/News.aspx?newsID=5689. (accessed July 22, 2024).

  • Harvard

    Scanlon, Joel. 2019. Golden Phoenix Receives Initial Resource Estimate at 669,000 Ounces Gold. AZoMining, viewed 22 July 2024, https://www.azomining.com/News.aspx?newsID=5689.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.