Property News
July 24, 2006
Announced the results of a project development appraisal for the Cerro Casale Project. Based on the updated capital and cash operating cost estimates and base case metal prices of US$450 per ounce of gold and US$1.50 per pound of copper, this appraisal has confirmed the previously defined Cerro Casale proven and probable mineral reserves of 1.035 billion tonnes of ore grading on average 0.69 grams per tonne of gold and 0.25% copper containing 23 million ounces of gold and 6 billion pounds of copper.
January 31, 2002
An evaluation was underway and a preliminary proposal to further evaluate the property outside of the known mineralized areas with the intent of generating new drill targets was being considered. This program would include surface mapping, sampling and geophysics, with a 1200 meter drill program contingent on successful surface results. Final results on trenching done late in the previous program will be analyzed before a final decision is made.
December 31, 2001
Drill program consisted of 12 RC holes totaling 2196 m and was targeted to test the limits of mineralization discovered during the first round of exploration drilling, as well as to test a new zone of surface gold mineralization.The drill program intersected several broad zones of anomalous gold mineralization, but failed to extend the limits of previously defined economic mineralization. Arizona Star and Aur are currently reviewing the results of both drill programs to determine an appropriate course of action for the joint venture.
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