GoldMining consolidates Colombian gold/copper portfolio

VANCOUVER (miningweekly.com) – Colombia-focused explorer GoldMining has consolidated gold/copper porphyry projects in the underexplored Mid Cauca Belt, adding the La Mina project to its portfolio following the closing of its C$13.5-million acquisition of fellow junior Bellhaven Copper and Gold.

La Mina bolsters GoldMining’s existing asset base that includes the Titiribi gold/copper project and bordering concession applications.

GoldMiningꞌs Colombian portfolio has total contained resources of 5.3-million ounces of gold, or 7.2-million ounces of gold equivalent in the compliant measured and indicated mineral categories, and 3.5-million ounces of gold (3.9-million ounces of gold equivalent) in the inferred category.

The La Mina asset hosts the Middle Zone and La Cantera deposits, as well as several high-priority prospects including La Garrucha, El Limon, El Oso, Media Luna and Buenavista, the company advised.

La Mina’s pit-constrained resource totals 1.01-million ounces of gold equivalent, grading 1.12 g/t gold equivalent in the indicated category, and 430 000 oz gold equivalent, grading 1.07 g/t gold equivalent in the inferred category, at a 0.25 g/t gold cutoff.

According to GoldMining, the La Garrucha aeromagnetic anomaly is substantially larger than those associated with either the La Cantera or Middle Zone deposits. The last drill hole completed at La Garrucha intersected 271 m grading 1.03 g/t gold and 0.13% copper, as reported by Bellhaven in September 2013.

To date, geologists have drilled a total of 106 diamond drill holes in 36 815 m at La Mina.

The company acquired Bellhaven for 7.34-million GoldMining common shares, representing 5.8% dilution to existing GoldMining shareholders.

GoldMining, which also has assets in the US, Canada and Brazil, now has global estimated resources comprising 8.5-million ounces of gold (or 11.4-million ounces of gold equivalent) in the measured and indicated categories and 10.6-million ounces of gold (13-million ounces of gold equivalent) in the inferred category.