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From The Agoracom Team
Creston Moly Corp. is a Canadian based mineral exploration company focusing on molybdenum in Mexico. Creston Moly Corp’s flagship property is located approximately 135 kilometers northeast of the city of Hermosillo, State of Sonora, Mexico near the village of Opodepe. Access to the property is excellent, via paved highways and 30 km of all weather gravel road. The Minmet molybdenum smelter, a custom facility, is located 40 kilometres from the property.
The company recently announced that its wholly owned Mexican subsidiary, Exploraciones Global S.A de C.V. ("Global"), has received confirmation of title from the government of Mexico for the Metzli 4 claim.
The Metzli 4 claim was acquired by staking and covers approximately 15,500 hectares. Creston's land position at the property now totals approximately 18,000 hectares (45,000 acres). The Metzli 4 claim covers previously identified molybdenum anomalies external to the main Creston Molybdenum deposit.
The Mineral Resources tabulated below for Creston were compiled at a 0.035% Mo cut-off grade. The 0.035% Mo Cut-off grade was calculated using a molybdenum price of US$6.50/lb, G&A of US$ 0.75/tonne, process cost of US$ 3.50/tonne and 87% process recovery.
The company recently announced that drilling has commenced at the El Creston Molybdenum project. Creston’s Mexican subsidiary, Exploraciones Global S.A de C.V. , has signed a diamond drill contract with Layne Drilling of Hermosillo for an initial 10,000 metres with an option for a further 20,000 metres of drilling. The initial 10,000 metre drill program will consist of infill drilling within the main El Creston Molybdenum deposit in order to upgrade inferred resources to the indicated category.
Creston Primary Resource Estimate @ 0.035% Mo Cut-Off Grade
Category | Tonnes | Mo % | Cu % | Mo lbs | Cu lbs |
Indicated | 92,873,000 | 0.083 | 0.060 | 169.9 | 122.8 |
Inferred | 84,221,000 | 0.076 | 0.050 | 141.1 | 92.8 |
The main Creston deposit is covered by an “exploitation” concession valid until 2054. The Creston Molybdenum deposit is located within a prolific belt of porphyry deposits which include Grupo Mexico’s Cananea and La Caridad mines.
Jonathan George gives company update and discusses supply demand dynamics of the moly market.