The initial drilling program categorized the zones into high grade breccia opening at depths in excess of 1,700m, high grade diatreme complex occurring within and peripheral to the diatreme complex; and low to medium grade porphyry mineralisation occuring close to the surface and is open at depths in excess of 1,700m.
Mineral Resource Estimate of 2.3 billion tonnes at 0.40% Cu and 210 ppm Mo (26.1 billion lbs CuEq) was previously announced by the company, which has started additional work to get the detail needed to enable mine planning and scheduling.
The number of Phase 4 drilling metres has been reduced from 100,000m to 61,000m due to consistent drill results enabling a better understanding of the geology.
The company will now focus on the remaining Phase 4 drilling on converting that high grade portion of the mineral resource to an indicated mineral resource.
The remaining drilling will focus on defining geological domains to delineate the areal extent of the high grade zones; high grade breccias to upgrade that part of the current inferred mineral resource; and diatreme complex to develop an understanding of the high grade zones that occur within, and peripheral to the diatreme complex.
Metminco also plans to conduct a pre-feasibility study in early 2013, following the scheduled completion of the revised Phase 4 drilling program in early Q3 2012, to evaluate several mining scenarios involving the phased development of Los Calatos, commencing with an initial, Stage 1, open pit.
