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Mr. Yale Simpson, Co-Chairman of Extorre Gold Mines talks about Extorre Gold Mines' newest bonanza grade discovery Zoe at the Cerro Moro Gold-Silver Project. The news of this discovery was released earlier in the week and Mr. Simpson goes through in-depth about this particular discovery and its impact on the project going forward.
He also takes the opportunity to talk about Extorre's other exciting regional projects that are just being drilled for the first time with results pending. This is the style of presentation you would expect Mr. Simpson to give at an international resource conference or to a broker or analyst reviewing the Company.
About Extorre:
Extorre Gold Mines Limited is a Canadian public company listed on the Toronto Stock Exchange (TSX) under the symbol XG and the NYSE-AMEX under the symbol XG. The Cash position in April, 2011, was $33 million.
Cerro Moro: Extorre's Flagship Project
Extorre's priority is to expand its mineral resources at Cerro Moro with an aggressive drilling campaign of +100,000 meters. Four rigs are drilling at Cerro Moro now with two drill rigs focused on the recent Zoe Discovery. The bonanza grade Zoe Discovery has opened up +2km of new exploration ground on the Cerro Moro property where the company is focused on delineating new high-grade mineralization.
On April 19, 2010, Extorre announced an updated National Instrument 43-101 compliant mineral resource estimate for Cerro Moro:
Indicated: 357,000 Oz. Gold + 15.3 Million Oz. Silver (612,000 Oz. Gold Equivalent*)
Inferred: 190,000 Oz. Gold + 12.0 Million Oz. Silver (390,000 Oz. Gold Equivalent*)
The 612,000 ounce gold equivalent* indicated resource, entirely from the Escondida vein, has an average grade of 32.3 g/t gold equivalent*, a grade considered exceptional by industry standards. The silver contribution is high, accounting for over 40% of the metal value using 60:1 sliver to gold ratios; using a 50:1 ratio, the project becomes silver dominant. Additional inferred resources of 390,000 ounces gold equivalent* are also reported from the Escondida, Loma Escondida, Gabriela, Esperanza, and Deborah veins. This inferred resource contains new material not previously estimated.
The 43-101 report for the Preliminary Economic Assessment (PEA) for Cerro Moro can be accessed from this website and provides estimated mine operating and capital costs for a potential 750 tonne per day mine delivering +130,000 ounce gold equivalent per annum over the initial five years' operations. An Environmental Impact Assessment including this mining scenario is expected to be approved by permitting authorities in Q2, 2011.
Four drill rigs are currently dedicated to expanding the near-mine gold-silver resources at Cerro Moro, providing further high grade resources beyond year five in the currently planned mine schedule. The Escondida and the Gabriela veins together with the newly discovered Lucia vein all show significant potential for expansion both along strike and at depth. In addition, other veins on the property with high silver-gold grades will be tested as we move through Q1 in 2011. Outside of the Cerro Moro project area, Extorre will also initiate drilling to realize the discovery potential of other properties in its portfolio.
*refer to Extorre's April 19, 2010 Press Release.
On October 19, 2010 Extorre announced results for a preliminary economic assessment for Cerro Moro which outlined the following*: Life of Mine: 8 years Average Production: 133,500 ounces of gold equivalent per year for the first five years. Cash Cost: $201 per ounce gold equivalent Capital Expenditure: $131 million Start-Up: 2012
*See Extorre's press release dated October 19th, 2010.
Work on a Pre-feasibility study is underway.
Extorre owns 100% of the Don Sixto gold-silver deposit in Mendoza Province, Argentina. In June 2007, the Mendoza government passed legislation that restricts mining in Mendoza Province. The project has been placed on hold, although the Company is optimistic that in due course mining will be permitted for projects that can be demonstrated to be both economically viable and sustainable for communities.
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The people in the Patagonia area are desperate for work and this mining operation has huge potential to provide a lot of jobs. The mining regions are inland and well away from any villages or such. The proposed mine uses the very best "green" techniques and would be a model for the industry in that regards. The local government took over a year to study the plans and determined that it would be a good project for their area.
RockHoward 7 months ago
@MindofaJedi I am not an expert in this area about water poisioning/pollution...if you have any objective evidence against this company, you may file legal complains... I do care about the wellfare of small villages.It's aweful if people have to be sacrificed as a result. I'd like to know what your solution is? I'm interested in knowlege, truth, understanding, kindness, real estate,gold and silver, industry...etc.
oceanstarspv 9 months ago
@oceanstarspv You are wishing success to a compant that poisons the water of small villages around the worls with cyanide . Either you are a total piece of shit , or you didn't listen to the video .
MindofaJedi 9 months ago
WHAT A BUNCH OF DEUSCHEBAGS , POISONING OUR LAND . Hope you all suffer for your crimes against humanity .
MindofaJedi 9 months ago
Afghanistan is going to be where it's at?
Downfurlife 9 months ago
Thanks for sharing.
garfield7257 10 months ago
Thank you for sharing your latest video! It is great knowing these information...I've just subscribed to your channel. Wishing you success and prosperity in all your investments. Have a great weekend!!!
oceanstarspv 10 months ago
Thanks for sharing your very interesting and informative video, excellent job.
MRJOHNNYNIKOLAIDIS1 10 months ago