With a view towards expanding its search for minerals throughout North America, Newhawk Gold Mines (TSE) has approved a corporate and exploration budget of $1.5 million for the year.
The junior is reviewing plans for its 60%-owned Bruceside gold property north of Stewart, B.C. Granduc Mining (TSE) holds the remaining 40%.
Previous feasibility work outlined a diluted minable resource in the West zone of about 600,000 tons grading 0.41 oz. gold and 17.32 oz. silver per ton.
A follow-up feasibility study in 1990 concluded that a $43-million, 350-ton-per-day operation would produce a marginal return at a gold price of US$400 per oz.
Be the first to comment on "Newhawk expands exploration focus"