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Austral Gold announces maiden reserve estimate for Amancaya project

Austral Gold Ltd. estimated total indicated resources of 804,690 tonnes at 9.64 g/t of gold and 80.7 g/t of silver for 277,352 gold equivalent ounces at its Amancaya gold project in Chile.

The company also released a maiden probable reserve of 948,053 tonnes grading 6.77 g/t of gold and 63.2 g/t of silver for 232,074 gold equivalent ounces, according to the June 8 release.

The probable reserve includes maiden open pit probable reserves of 254,596 tonnes grading 7.56 g/t of gold and 119.5 g/t of silver for 74,993 gold equivalent ounces.

The total inferred resource at Amancaya stands at 959,554 tonnes at 6.79 g/t of gold and 36.1 g/t of silver for 220,000 gold equivalent ounces.

Austral Gold also updated the estimate for the Guanaco mine in Chile to a measured and indicated resource of 2.2 million tonnes grading 2.9 g/t of gold and 13.0 g/t of silver for 217,000 gold equivalent ounces.

The Guanaco mine holds total reserves of 489,635 tonnes grading 2.99 g/t of gold and 3.6 g/t of silver for 47,907 gold equivalent ounces.

Reserves include 189,613 tonnes grading 3.41 g/t of gold and 4.1 g/t of silver for 21,106 gold equivalent ounces in the proven category, and 300,022 tonnes grading 2.73 g/t of gold and 3.4 g/t of silver for 26,801 equivalent ounces in the probable category.

The Guanaco mine also holds an inferred resource of 1.2 million tonnes grading 2.6 g/t of gold and 12.9 g/t of silver for 110,000 gold equivalent ounces.