CHILE - Centennial, Col.-based METALLICA RESOURCES has doubled the measured and indicated resources at its El Morro copper-gold project about 650 km north of Santiago. The La Fortuna deposit is thought to contain 6.38 billion lb of copper and 8.22 million oz of gold in the measured and indicated categories. The metal estimate is twice the amount estimated in 2005. There are another 2.23 billion lb of copper and 2.74 million oz of gold in the inferred category.
The El Morro project is a joint venture of Metallica (30%) and XSTRATA COPPER (70%), the operator. The latest resource estimate it delivered to Metallica included 380 million tonnes grading 0.65% Cu and 0.58 g/t Au in the measured and indicated categories. The inferred category contains another 143.2 million tonnes grading 0.56% Cu and 0.49 g/t Au. Drilling continues to upgrade deeper resources and delineate higher grade zones within the central part of the deposit.
Details of the project can be found at www.Metal-Res.com.