- Write by:
-
Sunday, June 2, 2019 - 12:05:34 PM
-
1075 Visit
-
Print
Mining News Pro - Canada’s Pure Gold Mining (TSX-V: PGM), which recently listed in London, has started its 2019 exploration program at its 100%-owned Madsen Red Lake gold mine in Ontario.
According to Mining News Pro - The Vancouver-based miner said it would focus on the Wedge, Fork, and Russet South satellite deposits with the purpose of converting and growing mineral resources used in the recently released preliminary economic assessment (PEA).
"At peak production, the mine is expected to yield about 125,000 ounces of gold with average annual production in years three through seven of approximately 102,000 ounces"
The plan represents the first conceptual expansion scenario for the future phased growth of the Madsen underground mine, expected to run for 12 years and which has an initial capital cost of C$95 million.
The mine plan envisions a combination of methods from conventional cut and fill (59%), mechanized cut and fill (16%) and longhole mining (25%).
Chief executive Darin Labrenz said previous drilling had resulted in the discovery of the Wedge deposit and helped the company`s understanding of the scale and tenor of gold mineralization, resulting in maiden mineral resources and a PEA.
"With this new program, our exploration team is focused on growth of the current resource and providing the framework for a second phase of development with the goal of not only extending, but potentially expanding the base case production scenario at Madsen," he said.
At peak production, the Madsen mine is expected to yield about 125,000 ounces of gold with average annual production in years three through seven of approximately 102,000 ounces.
Short Link:
https://www.miningnews.ir/En/News/382081
China’s Zhaojin Mining Industry said on Wednesday that its A$733 million ($477.8 million) offer to buy Australia’s ...
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
Gold’s record-setting rally this year has puzzled market watchers as bullion has roared higher despite headwinds that ...
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Gold took a tumble as haven demand waned after geopolitical tensions eased in the Middle East.
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
Newmont confirmed on Wednesday that two members of its workforce died this week at the Cerro Negro mine located in the ...
No comments have been posted yet ...