Leagold (TSX: LMC) has tabled new step-out drill results from the underground portion of its Los Filos gold mine, 230 km south of Mexico City. The company has drilled 12,000 metres so far this year at Los Filos and will look to drop another 50,000 metres as it attempts to build resources and replace reserves at the active mine.
Highlights from the latest round of assays include 7 metres from 61 metres downhole at 5.06 grams gold per tonne including 5 metres from 87 metres downhole grading 27.44 grams gold, as well as 9 metres from 266 metres downhole grading 9.07 grams gold.
Leagold acquired Los Filos in 2017 from Goldcorp (TSX: G; NYSE: GG). The mine features two open pits and an underground mine. At the end of 2017, Los Filos contained 61.4 million proven and probable tonnes grading 1.26 grams gold for 2.49 million oz. gold, with an addition 216,000 oz. gold in probable heap leach inventory. It began 2017 with 1.7 million oz. gold and mined 300,000 oz. gold.
Los Filos also contains 380.6 million measured and indicated tonnes grading 0.94 gram gold for 11.5 million oz. gold and 9.29 grams silver for 113.6 million oz. silver, as well as 240.5 million inferred tonnes at 0.74 gram gold for 5.74 million oz. gold and 10.23 grams silver for 79 million oz. silver. The company says it will incorporate 2018 drill results into an updated resource estimate at the end of the year.
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