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The Cerro Blanco property is located in southwestern
Guatemala
and is considered to be a classic
hot springs
gold deposit with typical bonanza type gold mineralization. The project focus has changed to a potential development as an underground deposit with possible operating synergies with the Marline Mine.
Approximately 18,000 metres of exploration drilling was carried out in 2006 and work on a revised Environmental Impact Assessment is underway.
All necessary licenses and permits were received in 2007 to begin construction of a decline to intercept the ore body to carry out metallurgical tests to assist with design optimization. Along with the underground gold/silver mine, a geothermal power generation project is under review, with a feasibility study to be completed in 2008.
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