New Dimension Resources Ltd. reported an updated resource estimate for its Las Calandrias gold-silver project in Argentina.

The property hosts 391,000 ounces of gold and 6.1 million ounces of silver in indicated resources, while inferred resources contain 42,100 ounces of gold and 401,500 ounces of silver.

The company said Oct. 5 that the updated estimate uses an optimized constraining shell and is based on the concept of an open pit for the Calandria Sur deposit and an open pit and possible underground operation for the Calandria Norte deposit. The previous estimate was reported on an unconstrained basis.

Compared to the previous Las Calandrias estimate on a like-for-like basis, the update represents a 10% increase in gold grade and a 21% increase in indicated ounces for Calandria Sur and a 27% increase in indicated ounces at Calandria Norte.

The analysis used cutoffs of between 0.3 g/t and 0.8 g/t for Calandria Sur, while at Calandria Norte, cutoffs were 0.8 g/t within the constraining shell and 1.5 g/t below.

New Dimension Resources noted significant potential to discover new resources at the project, especially within the Morena and Despreciada vein and breccia systems, in addition to new prospects such as Bozal in the broader Las Calandrias district.