Engineering & Mining Journal

JAN 2013

Engineering and Mining Journal - Whether the market is copper, gold, nickel, iron ore, lead/zinc, PGM, diamonds or other commodities, E&MJ takes the lead in projecting trends, following development and reporting on the most efficient operating pr

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REGIONAL NEWS - EXPLORATION ROUNDUP Tahoe Resources Extends Mineralization at Escobal Tahoe Resources reports that recent wide-spaced drilling at its underground Escobal silver project in southeast Guatemala has significantly extended the Escobal vein laterally over 600 m west and 400 m east of the current resource limits as well as down dip in the East and West/Margarito zones. Mineralization can now be traced over a 3,000-m strike length and 1,600-m vertical range along the Escobal vein. The trend remains open laterally to the east and west, and to depth. The new drill results show potential for resource growth in several areas. Firstpass, wide step-out drilling in the Far West extension area identified mineralized veins 600 m west and 700 m below the west limit of the current resource model, and drilling in the East zone extended mineralization below the East zone along a northdipping dilational jog. Wide-spaced step-out drillholes in the Far East zone confirmed the lateral contin- 22 E&MJ; • JANUARY 2013 uation of the Escobal vein over 400 m east of the current resource limit. This zone is untested at depth and remains open to the east where offset by post-vein faulting. Extensional drilling in the deep West zone will continue with one deep-capacity surface drill, while three drills will focus on underground in-fill drilling to support mine-stope definition. The 2013 Escobal exploration budget of $6.1 million will support continued deep step-out drilling in the west and east Escobal extensions as well as exploration in undrilled portions of the Escobal vein, satellite veins, and regional targets as they become available. (www.tahoeresourcesinc.com) Exploration Briefs Centerra Gold has entered into a binding agreement to purchase Stratex International's 30% interest in the Öksüt gold project located in the Kayseri region of central Turkey. Upon completion of the trans- action, Centerra will own 100% of the project. Consideration for the purchase consists of a $20-million cash payment at closing and a 1% net smelter return royalty on the project, subject to a $20 million cap. The Öksüt gold project is contained within an oxidized, high-sulphidation epithermal system. The project's Ortaçam North deposit was discovered in July 2011 and has been the focus of the joint venture drilling, which through November 2012 totaled 22,480 m in 75 holes. Currently, five diamond drill rigs are drilling at the Ortaçam North deposit. The majority of the diamond drill holes are PQ and HQ diameter. Hole depths generally average around 300 m, with some deeper holes being drilled to 500 to 600 m. The drilling at Ortaçam North has outlined a zone of oxide gold mineralization approximately 200 m thick over an area up to 600 m in length and 300 m in width. (centerragold.com) www.e-mj.com

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