Exploration Growth Pipeline
In October 2016, the Company announced the commencement of an expanded and accelerated Growth Exploration Pipeline Initiative at its operating underground gold mines, Turmalina, Pilar, and Roça Grande.
The Growth Exploration Pipeline investment of $7.5 to $8.0 million will be focused on brownfield exploration targets to expand and discover new mineral resources located in and around existing mine infrastructure and have a strong potential to enhance sustainable production, lower unit costs, increase cash flows, and extend expected mine life by converting mineral resources at its core assets through the upgrading of current Measured and Indicated Mineral Resources to Mineral Reserves as well as identifying future Measured, Indicated, and Inferred Resources.
Underground development exploration drives at both Pilar and Turmalina are ongoing at the hanging walls of both mines. These horizons, when completed, will be used for deep diamond drilling to test the down-plunge extension of current inferred resources. The Company is also conducting exploration drilling at the Pacheca and Cubas targets located in and around Pilar.
For the latest information on the Growth Exploration Pipeline, please click here
Pacheca Geophysics Survey