An updated resource estimate for Alexandria Minerals Corp.'s Orenada gold property in Quebec defined indicated resources containing 194,522 ounces and inferred resources containing 126,259 ounces of gold.
Zone 2 and Zone 4 at the project host indicated open pit and underground resources totaling 3.8 million tonnes grading an average 1.61 g/t, while inferred resources are pegged at 2.1 million tonnes at 1.89 g/t of gold.
The company said June 6 that the update incorporates data from 529 diamond drillholes and a new geological interpretation of Zone 4. Cutoffs used were 0.4 g/t of gold for open pit material and 2.0 g/t of gold for underground material.
The previous estimate, completed in 2009, defined 392,776 ounces of contained gold but was not geologically or open pit constrained, according to Alexandria Minerals, which also noted that the current update did not include data from another 10,500 meters of drilling across 37 holes completed since late 2017.
Alexandria Minerals said it believes that there is potential to add up to 2.0 million tonnes grading up to 2.0 g/t of gold by additional drilling at the extensions of the currently defined mineralization zones.
