Resource World Magazine

26 www.resourceworld.com a p r i l / m a y 2 0 1 5 vein systems: Yaraguá and Veta Sur. Effective December 31, 2013, Buriticá has measured and indicated resources of 8.39 million tonnes for 2.8 million oz gold; 8.43 million oz silver; and 90.1 million lbs zinc contained. On January 29, the company announced results of a 15-hole infill drill campaign on central sections of the Veta Sur vein. Among the high- lights, BUSY369D04 intersected 56.38 g/t gold, 163 g/t silver and 1.32% zinc from 199.95-210.80 metres. On February 19, Continental announced results from drill work at the eastern Yaraguá vein. Highlights included hole BUUY294, which intersected 11.13 g/t gold, 28 g/t silver and 1.24% zinc from 310.15-329.30 metres. Dynacor Gold Mines Inc. [DNG-TSX] operates a 250 tonnes-per-day (tpd) capac- ity gold and silver ore processing mill at Huanca, Peru. The ore is purchased from hundreds of small-scale Peruvian min- ers, assessed and then stockpiled before being blended and processed. Dynacor is seeking to build a $10 million, 300-600 tpd capacity mill at Chala, Peru, and is waiting for final construction approval. The company's flagship gold project is the Tumipampa property, also in Peru. On February 12, Dynacor unveiled encour- aging sample results from the project's Manto Dorado area and, on February 28, announced the discovery of four high- grade gold mineralized structures on the property. The company will pursue a comprehensive exploration campaign at Tumipampa across an 18-month period that will include surface and under- ground work. Effective September 30, 2014, the company had 36.4 million shares outstanding. Golden Arrow Resources Corp. [GRG-TSXV; GAC-FSE] is an advanced sil- ver-lead-zinc exploration project in Jujuy province, Argentina. A positive PEA has been completed for an open-pit mining operation, at a low 2.4:1 strip ratio with a processing rate of 2.9 million tonnes/year (8,000 tpd) for a 12-year mine life. After-tax net present value is $226 million at an 8% discount rate with an IRR of 24.3% and a payback period of 3.4 years. Lithium Americas Corp. [LAC-TSX] is advancing the Cauchari-Olaroz lithium project that comprises a significant por- tion of the Cauchari and Olaroz salt lakes in Jujuy, Argentina. On January 20, the com- pany announced that a demonstration plant operated at Cauchari by South Korean steel- maker Posco had produced over six tonnes of lithium compound since the plant's for- mal inauguration on December 22. Final processing and delivery to end users in South Korea will have taken place by the time of publication. Initial test results indicate that the demonstration plant has been achieving or exceeding all initial performance targets. In addition, Posco's extractive process is capable of producing potash and a plant to demonstrate this is being built in Jujuy City. Demonstration will continue for several more weeks, after which Lithium Americas expects to start commercial-stage negotiations with Posco in the spring of 2015. Los Andes Copper Ltd.'s [LA-TSXV] current efforts are on the Vizcachitas por- phyry copper-molybdenum project 130 km north of Santiago, in an area of good infrastructure. The property hosts NI 43-101 compliant indicated resources of 1,038 Mt grading 0.434% CuEq (0.373% Cu and 0.012% Mo), for 8.5 billion lbs copper and 281 million lbs molybdenum. Inferred resources stand at 318 Mt of 0.405% CuEq for 2.4 billion lbs copper and 88 million lbs molybdenum. A PEA states the base case has a 28-year mine life, initial capital expenditures of $2.9 billion, sustaining capital expenditure of $0.7 bil- lion at a copper price of US $2.75/lb and a molybdenum price of US $13.64/lb. On an unlevered after-tax basis, the base case results in an NPV of $274 million, an IRR of 9.5%, and a payback of six years. Luna Gold Corp. [LGC-TSX; LGC- LMA; LGCUF-OTCQX] announced on February 17, that it was suspending min- ing operations at its Aurizona gold mine in Brazil. On completion of mine operations, the workforce will focus on processing a 470,000-tonne stockpile. Luna expects to process around 860,000 tonnes ore, grad- Sintana-RW-thirdpg Ad-SE 03-27-15 It may seem unconventional for a junior company like Sintana Energy to attract a mega-partner like ExxonMobil – but not when you consider the unconventional NI 51-101 resource estimate of 700 million barrels of prospective recoverable oil on our VMM-37 block in Colombia. SNN TSX.V

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