Golden Phoenix Minerals, Inc. (OTCBB:GPXM) announced a resource estimate on its Panama-based Santa Rosa property.
As quoted in the press release:
SRK reports an in-situ Inferred resource at the former Santa Rosa and ADLM pits totaling 23.1 million metric tonnes at 0.90 grams/tonne (g/t) Au, for a contained 669,000 ounces of gold, at a 0.30 g/t Au cutoff.
Golden Phoenix’s Vice President of Exploration, John Bolaños said:
In addition to SRK’s inferred resource estimate of 669,000 contained ounces of gold, the Santa Rosa project has an additional unspecified volume of mineralized material on former heap leach pads throughout the property.