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Recent Photographs of Marlin

Marlin Press Releases

Compliance Advisor Ombudsman Report Links

May 22, 2006 - Glamis' Response to Compliance Advisor Ombudsman Report Regarding the March 2006 "Follow up Assesment, Guatemala"

2004 Annual Monitoring Report

Community Relations
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Citizen's Development Corps.
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spacerPublic Consultation and Disclosure Plan
spacerIndigenous Peoples Development Plan
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Other Technical Documents

Contact Information:
Montana Exploradora de Guatemala, S.A.
20 Calle 24-60 Zona 10
Ofibodegas Pradera
Oficina No. 20
Guatemala City, Guatemala

Tel: 011/502-2385-6647
Fax: 011/502-2385-6651
Contact: Tim Miller, Vice President, Central America

Location: The Marlin Project is located in the western highlands of Guatemala, 48 kilometers southwest of the city of Huehuetenango, which in turn, is approximately 300 kilometers by road north-west of the capital, Guatemala City. The project lies within a highly prospective land package of approximately 100,000 hectares in Western Guatemala.

Photo

Project Description:
The Marlin deposit was first discovered in 1998, and Glamis Gold acquired its 100% interest in the property through the merger with Francisco Gold Corp in July 2002. During its due diligence review, Glamis established an initial gold equivalent resource of 1.4 million ounces. Upon completing the acquisition, a drill program was initiated to extend the Main zone, which also led to the discovery of major extensions to the south and southeast. The ore body is still open along strike to the west and down-dip to the south.

Based on the subsequent feasibility study, Glamis commenced construction of a combined open pit and underground operation in the first quarter of 2004. Construction is currently ahead of schedule and commercial production is expected in the fourth quarter of 2005. Mill capacity has been expanded to 5,000 tonnes per day to accommodate additional high grade feed recently found in the La Hamaca Zone and other satellite properties. The project is fully permitted and enjoys strong local support, as well as backing by the Guatemalan Government and the World Bank.

Key Operating Parameters

Mill Capacity 5,000 tonnes per day
Average Gold Grade 4.83 g/tonne
Average Silver Grade 74.7 g/tonne
Estimated Capital Cost $140 million
Average Annual Production  
Gold 250,000 oz.
Silver 3.6 million oz.
Recovery Rates  
Gold 91%
Silver 84%
Total Cash Cost* < $90/oz.
* Net of Silver by-product credits

Exploration: Underground definition drilling from the bottom of the recently completed decline ramp is further defining the main Marlin ore body in preparation for production.  Within the district, several highly prospective targets have been identified, including a 405,000 oz. gold equivalent, inferred resource at La Hamaca, three kilometers to the north of the main Marlin ore body.  Continued success in these outlying targets could, over time, turn Marlin into a major gold and silver producing district.  The highest priority targets are shown on the following illustration. 

Primary Targets

Marlin Collar Map
Marlin Assay Database

La Hamaca Collar Map
La Hamaca Assay Database
La Hamaca Cross Section

West Vero Collar Map
West Vero Assay Database
West Vero Long Section

Proven and Probable Reserves
as of Dec. 31, 2005


Gold reserves calculated at $400 per ounce.
Silver reserves calculated at $7 per ounce.

 

Tonnes

Au
Grade
(gpt)

Au
Ounces

Ag
Grade
(gpt)

Ag
Ounces

Marlin

16,436,000

4.59

2,426,000

76.02

40,169,000

]Proven and Probable Reserves are a subset of Measured and Indicated Resources


Measured and Indicated Resource
as of Dec. 31, 2005


Measured and Indicated Resources, for purposes of determining a reasonable expectation of eventual economic extraction, are estimated using a $500 per ounce gold price.

 

Tonnes

Au
Grade
(gpt)

Au
Ounces

Ag
Grade
(gpt)

Ag
Ounces

Marlin

18,777,000

3.96

2,389,000

63.4

38,271,000

La Hamaca
926,000
5.74
171,000
146.1
4,350,000

 

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