Issue link: http://resourceworld.uberflip.com/i/661612
A P R I L / M A Y 2 0 1 6 www.resourceworld.com 9 mization studies for the project this year, with spending on Tocantinzinho to reach $10 million. Most of the money will be used on completing road access to the site; permitting; basic engineering and general site costs. Eldorado also holds the Vila Nova open-pit iron ore mine in Amapá State, Brazil. This was mothballed in 2015 on depressed iron ore prices. The last full- year production was in 2014, with almost 694,000 tonnes produced and 525,000 tonnes sold. Fura emeralds Inc. [FUR-TSXV] has a licence to excavate emeralds from the ECH- 121 concession based in the emerald belt of the Boyacá region, central Colombia. It lies 2 km south of the Muzo emerald mine. The company spent $1.9 million on an explo- ration program, including $975,000 to acquire the licence valid through to 2034. Geoconsultora Fenix was hired to under- take the first campaign that lasted from September to December. Stage one involved interpretation of sat- ellite images and analysis of lineaments to define the prospective areas for emerald occurrences. Two areas of interest – North and South – were defined. Stage two com- prised a geological mapping and a soil sampling campaign that used enzyme leach to help determine mineral deposits from a few metres in depth to more than 1,000 metres. Geophysical data was also col- lected and 14 geochemical anomalies were earmarked for follow-up work. The cost of the next exploratory program, Phase II, is estimated at $1.2 million, with promising targets to be drilled and tested for emerald mineralization up to depths of 300 metres. Goldcorp Inc. [G-TSX; GG-NYSE] oper- ates the Cerro Negro Mine in Santa Cruz province, Argentina, with commercial pro- duction declared in January 2015. Output last year stood at 507,400 ounces gold and the company estimates 2016's output will reach between 475,000 and 525,000 ounces. The company continues to explore at the project, while it also holds a 37.5% stake in the Alumbrera Mine, northwest