Xtract Resources has intersected a second high grade gold reef system (’Reef system B’) at the Colin mining area at its developing Chepica gold and copper mine, in Chile. The new system grades 3.9 g/t over a 4.1 m width in situ and to-date the company has developed 10 m along strike. Xtract believes that the reef could extend for 250 m along strike and could quadruple the previous estimates of contained gold in the area.
CEO, Jan Nelson, said: “The discovery of the two reef systems at the Colin Mining area is changing the way in which we are looking at the long term development of the Chepica Mine. Drilling will commence within the week on the Colin prospect and we intend to drill over 8 surface boreholes representing 1,500m to define all the reef systems in the Colin Mining area”. He went on to say that he thinks the life of the mine can now be extended to in excess of 20 years.
Xtract intersects new reef in Chilean mine:XTR