La Libertad Gold Mine
Project Introduction
In July 2006, Glencairn Gold Corporation
purchased a 100% interest in the Libertad gold mine, a 3,000 tpd
open pit and heap leach operation, with associated equipment and
infrastructure.
Project Background
La Libertad Mine is approximately 110 km due
east of Managua, the capital of Nicaragua. The mine is within the
La Libertad-Santo Domingo area, where large-scale mining operations
developed in 1862.
At La Libertad, epithermal gold-silver deposits are hosted in
andesitic volcanic rocks. Gold mineralization is associated with
steeply dipping, structurally controlled quartz veins over a 12 sq
km area.
Production at La Libertad began from an open pit in mid-1997. From
the start of production to the end of May 2006, 8.1 million tonnes
of ore grading 1.77 gpt gold were processed to produce 461,300
ounces of gold.
Project Scope
Scott Wilson was retained by Glencairn Gold
Corporation to summarize previous work on the property, prepare an
updated mineral resource estimate for the mine, and review all
aspects of the current operation. A Technical Report was prepared
to Canadian securities regulations, National Instrument 43-101.
Value Adding Project
Achievements
An updated mineral resource was estimated
using a three-dimensional block model, with individual outlines of
zones or lenses interpreted from an extensive geological database
containing 732 reverse circulation and 31 diamond drill
holes.
Based on its review, Scott Wilson made several recommendations to
improve the drill hole database, the geological model and
mineralization controls, and the mining plans.