Chesapeake Gold is looking for a partner for their world-class Metates Silver-Gold project in Durango, Mexico and simply selling it is an option as well. In the NI 43-101 Preliminary Economic Assessment (PEA) Report completed in June, 2010, the measured and indicated mineral resource at Metates is 17,180,000 oz Au and 466,525,000 oz Ag with an average gold equivalent grade of 0.81 g/t. The 26,000 meter drilling program that recently commenced will most likely move additional ounces from the inferred category to the measured and indicated reserves. Production is expected to reach 873,000 oz Au and 33 M oz Ag per year. The cost for developing this project is estimated at over $3 billion dollars. Chesapeake CEO, Randy Reifel said, I dont see us building it. Chesapeake is more of an exploration company and development of the Metates project will require a major mining company with deep pockets and technical expertise in bringing mines into production. Were getting interest from a lot of people, says Reifel. Rumors are that Goldcorp may take on Metates, but those are just rumors at this time.
Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.
