Categories: Base Metals / General Market Commentary / Precious Metals
Topics: General Base Metals / General Market Commentary / General Precious Metals

GoldMining’s (TSX-V: GOLD) acquisition of La Mina to create massive gold-copper portfolio in Colombia

GoldMining (TSX-V: GOLD; OTCQX: GLDLF) recently announced the acquisition of all outstanding common shares of Bellhaven (TSX-V: BHV) and its La Mina Gold Project in Colombia, which includes the 1,794 Ha La Mina concession and the contiguous La Garrucha concession.

La Mina is located approximately 6 km southeast of GoldMining’s Titiribi site in the central
Antioquia department. The project is comprised of two concessions that cover an area of 32 km2 and, according to GoldMining’s management, it is one of the highest grade gold porphyry projects in the Americas. It hosts the Middle Zone and La Cantera deposits and several prospects including the aforementioned La Garrucha, El Limón, El Oso, Media Luna and Buenavista.

Bellhaven published a pit-constrained resource at a 0.25 g/t gold cut-off for the Middle Zone and La Cantera deposits in October 2016 totaling 1.01 million ounces gold equivalent grading 1.12 g/t gold equivalent in the indicated category and 0.43 million ounces gold equivalent grading 1.07 g/t gold equivalent in the inferred category.

A Preliminary Economic Assessment on the project conducted in 2013 also concluded that La Mina could be one of the lower cost gold development projects in the region, with costs estimated to total US$408/oz. (net of byproduct credits).

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