Bluestone Resources Inc. estimated a measured and indicated mineral resource at its Cerro Blanco gold-silver project in Guatemala of 3.7 million tonnes at 10.1 g/t of gold and 37.9 g/t of silver as of July 22.
The resource contains about 1.2 million ounces of gold and 4.5 million ounces of silver at a 3.5 g/t of gold cutoff, Bluestone said Sept. 10.
The inferred resource is 1.4 million tonnes at 8.1 g/t of gold and 23.6 g/t of silver containing 357,319 gold ounces and 1.0 million silver ounces.
The company added that Cerro Blanco is permitted for an underground mining operation and is undergoing a feasibility study focused on developing an underground operation.
The resource update was based on 129,231 meters of drilling across 580 holes by Bluestone and earlier operators.