QUEBEC – COGITORE RESOURCES of Toronto has received a feasibility study from GENIVAR for its Estrades gold project near La Sarre. After careful consideration, the directors decided that the project would be marginal and will not go forward at this time.
The company said the project is “extremely sensitive” to the exchange rate and to metal prices, particularly zinc. The project would also be impacted by changes in zinc concentrate treatment charges, gold prices and fuel prices for on-site power generation and long-haul trucking. The project has a government certificate of authorization, and could go ahead quickly if the zinc and gold prices strengthen.
In the meantime, Cogitore will focus its efforts in the area on exploring for additional deposits of the Estrades-type, namely volcanogenic massive sulphide (VMS) deposits with high precious metal contents. In that respect, the adjoining Caribou property was acquired in 2007 and promising coincident targets were identified this past winter, according to the company.
Learn more at www.Cogitore.com.