A 29,000-ft drill program is under way at City Resources (Canada)’s Cinola gold deposit in the Queen Charlotte Islands. The company says the program is designed to confirm the grade and tonnage of the deposit which now is effectively owned 100% by City Resources.
According to Reno J. Calabrigo, executive vice-president, Misty Gold, a wholly-owned subsidiary, recently completed a $5-million agreement with Energy Reserves Group for its 50% interest in the deposit. The final $2.5-million payment was made Jan 5.
The company is confident it can overcome the difficult metallurgical characteristics of the Cinola deposit and alleviate environmental concerns expressed by native peoples in the region.
Be the first to comment on "Major drilling is under way for City Res."