Farallon to assess gold mine at Campo Morado

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Based upon the rapid rise in gold prices, Farallon Mining said it is planning a second mine at its Campo Morado property in Guerrero Sate in Mexico

The Company is formally initiating studies to re-evaluate the Reforma, Naranjo, El Largo and El Rey deposits to assess the feasibility of building a second mine with a target start date of July 1, 2013.

Indicated resources for the Reforma, El Rey, Naranjo and El Largo deposits total 11.2 million tonnes of 4.7% zinc, 0.7% copper, 1.4% lead, 165 grams per tonne of silver and 2.7 grams per tonne of gold.. Contained gold totals 960,000 ounces and contained silver totals 60 million ounces.

The Company already operates a zinc mine, G-9 zinc mine at Campo Morado.  The second mine would piggy back on infrastructure already in place  at the current G-9 mine operation.

Located in the northern Guerrero Gold Belt to the west of and adjacent to Newstrike Capital Inc.’s Aurea Norte Project in Guerrero State, Mexico, the G-9 mine is a 1,500 tonnes per day, underground, zinc mine with important by-product credits of copper, gold, silver, and lead.

Source: Farallon Resources

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