Great Panther Silver Ltd. updated resources for its past-producing polymetallic Coricancha property in Peru, after acquiring the project in early July.
Coricancha hosts measured and indicated resources totaling 752,759 tonnes grading 5.8 g/t of gold, 200 g/t of silver, 2.06% lead, 3.26% zinc and 0.53% copper, with inferred resources estimated at 943,160 tonnes grading 5.0 g/t of gold, 209 g/t of silver, 1.45% lead, 3.25% zinc and 0.64% copper.
The estimate uses cutoffs based on an estimated US$140/tonne net smelter return, according to a Dec. 20 statement.
Great Panther noted that compared to the historical estimate completed in late 2012, inferred tonnage decreased due to different search parameters while measured and indicated tonnage and grades lined up. The company said it might be possible to replace the tonnage with additional drilling.
The 2012 estimate comprised measured and indicated resources of 890,000 tonnes grading 5.04 g/t of gold, 174.62 g/t of silver, 1.97% lead, 3.11% zinc and 0.42% copper, with inferred resources of 4.9 million tonnes grading 4.91 g/t of gold, 224.54 g/t of silver, 1.57% lead, 2.98% zinc and 0.48% copper.
Great Panther is undertaking optimization studies and assessing various mining methods in a bid to reduce costs and risks related to the project. Additional technical studies are expected to be posted in the second quarter of 2018.
