Guatemala: Silver Mine Estimate Grew 144%
Tahoe Resources, which owns the Escobal silver mine project, announced that indicated resources at the mine increased 144%.
Tuesday, November 30, 2010
In the press release, the company explained that according to new measurements, there are 245 million ounces at an average gradient of 500 grams per ton; the mine could produce 19 million ounces of silver in their first 5 years of operation at a cost of less than $ 3 an ounce.
Minning project Escobal could rival Mexico's Fresnillo, the largest silver mine of the world.
The Canadian company Tahoe Resources, which owns the Escobal silver mine, has announced that it has all of the funding and the project will start on time.
Tahoe Resources announced that the Environmental Impact Study for the Escobal mine project has been approved by the corresponding authorities.
Tahoe Resources, the Canadian company which bought the project from Goldcorp, has announced an investment of $500 million to extract the 300 million ounces estimated at the site.
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