PERU – CAMBIOR INC. of Longueuil (Montreal) has boosted the gold resource at its La Arena project in the Andes Mountains by 486% (tonnage) or 272% (contained ounces). The jump comes only seven months after figures were posted at the end of 2005.
The gold oxide deposit is estimated to contain a total of 37.40 million tonnes grading 0.59 g/t Au in the measured and indicated categories. The gold-copper porphyry deposit is estimated at 102.30 million tonnes grading 0.39 g/t Au and 0.48% Cu. Together both deposits may contain close to 200 million oz of gold and 1.1 billion lb of copper.
Louis P. Gignac, Cambior’s president and CEO, said, “We are encouraged with the results to date on the La Arena project and are fast-tracking the completion of the pre-feasibility study to move this project forward.”
Martin Amyot, manager of investor relations, may be contacted at 450-677-0040 or toll-free at 866-554-0554.
La Arena is located in northern Peru near the town of Huamachuco, 480 km north of Lima.