Bolnisi Gold NL is looking to become a silver producer in the second half of 2006 through the development of its Palmarejo precious metals project in Mexico. Situated within the occidental mineral province of the Sierra Madre in Mexico's Chihuahua State, Palmarejo holds the equivalent to 3.1 million gold ounces. The company is looking to mine 250,000-300,000 tonnes of ore annually at 4.8 grams/tonne equivalent over a mine life of 8-10 years. Bolnisi has around 12,134 hectares of titles containing an estimated 16 kilometres of strike rate in an established gold/silver area. Sitting in a low sulphidation quartz sulphide epithermal system, the prospect's mineralisation is contained within two distinct structures. La Prieta -- a resource based on drilling covering 800 metres of strike of the structure -- is known to extend over two kilometres. The second, La Blanca, has 800m of strike. Expectations are that this figure will extend to 1,300m.
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