Anglo-Irish exploration company Minmet today announced new samples from its Serra da Quinta project in Portugal imply the gold grade and probably the tonnage have been underestimated.
Important untested structures now considered to be controlling the gold mineralisation were identified at Serra da Quinta where work is being carried out by Minmet’s wholly owned unit Connary Minerals.
These structures were re-sampled in three of the four accessible old mine galleries that occur over a strike length of 550 metres.
The channel sampling took into account new information from the research project on the orientation of the best mineralised structures.
"The obvious implication of this work is that the overall gold grade and probably the tonnage of the mineral resource at Serra da Quinta [2.42 million tonnes at 2.71 grammes/tonne gold] has been previously substantially underestimated," it said.
AFP