- Pasofino Gold (VEIN) has completed its updated mineral resource estimate for the Dugbe F and Tuzon deposits
- The measured and indicated portion of the MRE boasts 2.88 million ounces of gold
- The update indicates clear opportunities to expand the MRE beyond the pit-shell
- Pasofino Gold is a Canada-based gold exploration company engaged in the acquisition, exploration, and development of mineral properties
- Shares in Pasofino Gold Ltd. (VEIN) are steady, trading at $0.68 per share
Pasofino Gold (VEIN) has completed its updated mineral resource estimate for the Dugbe F and Tuzon deposits on the Dugbe Gold Project.
Using a 1.0 g/t gold cut-off, the measured and indicated portion of the MRE boasts 2.88 million ounces of gold contained in 56.6 million tonnes, grading 1.58 g/t gold in two deposits:
- Tuzon deposit: 40.2 Mt grading 1.64g/t Au containing 2.11 Moz gold
- Dugbe F deposit: 16.5Mt grading 1.45g/t Au containing 0.77 Moz gold.
This higher-grade material comprises the bulk of the MRE, and selective processing of it should benefit the project economics, said the company in its recent press release.
Compared to the initial mineral resource estimate, this updated MRE represents an increase of 1 million ounces of gold in the measured and indicated category.
In addition, the MRE contains an inferred tonnage of 14.9 million tonnes grading 1.37 g/t gold.
The recent update indicates that there are clear opportunities to expand the MRE beyond the pit shell, increase grade and make new discoveries across the Dugbe project.
Ian Stalker, CEO of Pasofino Gold, commented on the updated MRE.
“It is also important to note,” he said, “that there are avenues for further resource expansion and grade increase which is exciting, and we plan to take advantage of these as we work full speed to finalize the feasibility study in early 2022.”
The updates to the Dugbe F and Tuzon MREs utilized approximately 14,000 metres of additional diamond core drilling completed in 2021, adding to the 68,832 metres drilled by Hummingbird Resources between 2009 and 2014.
Both deposits extend beyond the MRE pit shell, and there is an opportunity to expand the high-grade zone at Tuzon beyond its current model.
Pasofino Gold is a Canada-based gold exploration company engaged in the acquisition, exploration, and development of mineral properties.
Shares in Pasofino Gold Ltd. (VEIN) are steady, trading at $0.68 per share as of 11:18 am ET.