Big news for CNL-T equity
Daniel Earle expects the resource to form the basis of the PEA in Q4/14, with the results of the Phase V drill program and important underground sampling to possibly be included in a subsequent economic study.
It's no surprise since the company's database included 578 surface and underground drill holes (203 km of drilling) and 3.7 km of channel sampling.
Underground development is still on track. Yaraguá Ramp will be completed by year-end, with the company having completed 91m out of 380m planned.
Approximately 245m of the planned 350m Veta Sur deposit is complete. The progress is ahead of schedule.
There are some critical results for de-risking the resource estimate in mid to late Q4/14E.
According to the company, vein locations observed in the Veta Sur cross-cut appear to reconcile well with the vein locations in the current mineral resource estimate.
In regards to Yarugua, the company has four rigs operating from the Higabra Tunnel assigned to infill drilling the deeper portion of the resource envelope. In addition, 650m program of short cross-cuts was initiated in the upper part of Yaragua in September..
Daniel Earle reported big news coming in Q4/14E:
Development Update, including Yaraguá and Veta Sur
Completion of Preliminary Economic Assessment
Furthermore, find updated resource estimate in H2/15E and completion of permitting in Q3/15E.
