Belo Sun Mining has provided a revised mineral resource statement for its Volta Grande gold project located in Para State, Brazil. This revised mineral resource statement includes results from 112 boreholes for February 29, 2012. These results were unavailable for the earlier mineral resource statement declared on January 23, 2012.
The results signify a key upgrade to Volta Grande mineral resources. Major alterations comprise indicated and measured open pit mineral resources of 2.85 M oz gold at a typical grade of 1.69 g/t gold, which denotes a 28% increase from 2.22 M oz; and inferred open pit mineral resources of 1.97 M oz gold at a typical grade of 1.70 g/t gold, which denotes an increase of 28% from 1.54 M oz.
Belo Sun Mining’ President and CEO, Mark Eaton stated that the latest mineral resource statement is a significant achievement. Earlier in 2010, the projected mineral resources for the Volta Grande gold project were about 715,000 oz grading 1.1 g/t gold in the indicated category, and was 1,388,000 oz grading less than 1.0 g/t gold in the inferred category. The standard grade has increased considerably. Moreover, the major increase in indicated and measured categories to about 3 M oz has reduced the project’s geological risks. Eaton added that the Volta Grande gold project could be an unexplored project in Brazil. The company is awaiting for results of the feasibility studies so as to make a development decision on the project.
The company intends to complete another resource update in the Q3 of 2012 which will form the basis of a preliminary feasibility study.
Source: http://www.belosun.com/