PERU - NORTHERN PERU COPPER of Vancouver has released the first resource estimate for its Hilorico gold deposit in the northern part of the country. At a cutoff grade of 0.30 g/t Au, the oxide resource is 19.40 million t grading 0.65 g/t Au and 3.30 g/t Ag. There is also a sulphide resource that, at the same cutoff, contains 40.06 million t at 0.68 g/t Au and 5.20 g/t Ag. The company estimates that together the oxide and sulphide resources contain 1.28 million oz of gold and 8.71 million oz of silver.
So far Northern Peru has drilled 9,650 m in 30 holes at Hilorico. Holes HR-06-28 through HR-06-30 targeted gold- and zinc-rich polymetallic replacement mineralization such as the 3.85 m of core grading 16.7% Zn, 18.6 g/t Ag, 0.6 g/t Au, 0.29% Cu and 0.20% Pb intersected in hole HR-06-25 from 108.00 to 111.85 m. This year the company will explore the highly prospective limestones east of Hilorico.
The Hilorico project is only 1 km from Northern Peru's large Galeno copper-gold-molybdenum porphyry project in the Yanacocha mining district. The Galeno prefeasibility study has just been released, and the company plans to proceed to a bankable feasibility study. It can be read at www.NorthernPeru.com.
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