NWM Announces Drill Program to Increase Resources/Reserves at Lluvia de Oro
NWM Mining Corporation (NWM.V) is initiating a drill program with the objective of adding mineral resources and mineral reserves at the Company's Lluvia de Oro mine in Sonora, Mexico.
The primary focus of the program will be to upgrade a significant portion of the currently defined inferred resources (approximately 200,000 ounces / 17,000,000 tonnes at 0.36 g/t Au) at the Lluvia de Oro deposit to a status of measured and indicated mineral resources. The cost structure of the current mining operations indicates that these mineral resources can then be converted to mineral reserves, NVM said in a statement.
The drill program will also aim to define new inferred resources along strike from the currently defined mine reserves. An updated reserve/resource estimate is expected to be completed during the summer of 2013.
NVM is at a yr low of 1 cent.
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