Feasibility at Golden Pond

A production feasibility study is under way on the Golden Pond proje ct held by Inco Ltd. (60%) and Golden Knight Resources (40%). Located in Casa Berardi Twp., the property hosts a drill- indicated geological resource of eight million tons grading 0.23 oz gold per ton, Inco, the project operator, reports. The feasibility will incorporate data from a $7-million underground exploration program which was successfully completed on the Golden Pond east deposit. As part of on-going surface exploration on the large prope rty, a $2.8-million diamond drilling program has also started which will continue testing the Golden Pond west deposit. The geological resource in Golden Pond west exceeds two million tons grading 0.21 oz gold per ton, Inco says.

The partners are also discussing with the government of Quebec, the possibility of constructing a road and power transmission line to the property.