When you read today's PR, it might occur to you that the low grades in the PR might not be workable. Fortunately for me, another of my holdings T.AR Argonaut Gold reported results today and here's what they are making great money mining .
- Total production of 108,081 ounces of gold (+50% over 2011)
- El Castillo 87,712 ounces (+22% over 2011)
- La Colorada 20,369 ounces
El Castillo In Pit Sulphide Mineralization
- Over 360,000 gold ounces have been added to El Castillo's in-pit resources. The additional sulfide mineralization is divided into two categories including non-silicified sulphides and silicified sulphides; this provides 22.6 million tonnes at a grade of 0.504 g/t. The majority of the mineralization falls in the non-silicified category which has an average grade of 0.47 g/t with recoveries ranging from 25% to over 50%. The smaller silicified zone of mineralization is mainly confined to a higher grade breccia pipe averaging 0.80 g/t. yielding recoveries of 11% to 28%.
So indeed MRZ can make money in Chile with these types of finds.