Capstone Mining Corp. said June 5 that an updated resource estimate for its polymetallic Cozamin mine in Mexico increased contained indicated copper at the Mala Noche Footwall Zone by 115,000 tonnes.
As of March 31, Cozamin hosts measured and indicated copper resources totaling 13 million tonnes grading 1.67% copper, 43 g/t of silver, 0.83% zinc and 0.16% lead, representing 217,000 tonnes of copper, 18.1 million ounces of silver, 107,000 tonnes of zinc and 20,000 tonnes of lead.
Inferred copper resources are estimated at 9.9 million tonnes grading 1.15% copper, 40 g/t of silver, 1.24% zinc and 0.29% lead.
Indicated zinc resources at Cozamin are estimated at 2.7 million tonnes grading 3.56% zinc, 0.26% copper, 42 g/t of silver and 0.55% lead, with inferred zinc resources of 4.7 million tonnes grading 3.06% zinc, 0.20% copper, 32 g/t of silver and 0.33% lead.
The estimate uses a US$42 net smelter return cutoff grade and incorporates adjustments for mining to March 31.
A 40,000-meter stepout and infill drill program is ongoing on the property.
"The additional [115,000] tonnes of contained copper added to the [measured and indicated] class in the [Mala Noche Footwall Zone] will be targeted by mine engineering for potential conversion into mineral reserves in 2018, and inferred resources will be targeted in 2018 and 2019 for a potential classification upgrade to [measured and indicated]," Capstone Mining President and CEO Darren Pylot said in the statement.
