Drilling Continues At Brazilian Gold Project
TriStar Gold Inc. (TSXV: TSG)has released an announce an interim mineral resource estimate for the Castelo de Sonhos gold project in Pará State Brazil.
This model incorporates new information available at the end of 2020; drilling is still ongoing so an updated estimate will be completed in the upcoming months to be used in the prefeasibility study. The interim estimate shows that the CDS Project now has:
- 1.5 Moz of gold in the Indicated category at a grade of 1.2 g/t contained in 40.1 Mt and
- 0.7 Moz in the Inferred category at a grade of 1.0 g/t gold contained in 22.2 Mt.
“This interim resource estimate already exceeds what we had targeted as a base for the preliminary feasibility study (PFS),” President and CEO, Nick Appleyard, said.
“We’re continuing to drill and we will have more drill results to add when resources are updated for the PFS. Grade remains strong, especially in Esperança South which anchors the project.
“This interim model will be used to target any remaining drilling needed to eliminate gaps and to better delineate the extension that has opened up on the northern end of Esperança South, as well as to locate geotechnical investigations for pit wall stability.”
The Castelo de Sonhos gold project is situated in the Pará state of Brazil, approximately 20km from the town of Castelo de Sonhos. It is a paleoplacer gold deposit that is large, simple and in the right location.
Key Attributes
- Substantial amounts of untested growth potential
- Robust Preliminary Economic Assessment
- Mineralization at surface → simple open pit
- Good metallurgical properties → high gold recovery
- Connected to grid power, close to highway → good infrastructure
A Preliminary Economic Assessment (PEA) released in November 2018 indicated a pre-tax IRR of 51% at a gold price of US$1250, with a low-cost base and strong leverage for higher gold prices.
