Rising gold prices could well put Mosquito Consolidated’s Mosquito Creek gold mine near Wells, B.C., back in action.
An intermittent producer since it opened in 1980, the mine was closed in 1986.
The current gold market, however, is strong enough to prompt Mosquito to begin a $6-million program to explore and develop ore reserves prior to reopening the operation.
About $1.5 million has been raised in two private placements using flow-through shares. President Cameron McFeely anticipates raising another $4.5 million either through flow-through or joint venture agreements.
Funds will be used to drive a 3,200-ft. exploration adit from the portal near the present Mosquito mill to connect with the 4,000-ft main haulage level of the old Island Mountain mine. The adit will intersect with the main ore-bearing limestone host rocks of the Mosquito mine operation at a level below the current workings. The company plans to explore the orebody by drifting approximately 2,000 ft along towards the Mosquito mine workings.
The company hopes to prove up enough ore to go into continuous operation at 200 tons per day, McFeely says. He anticipates start- up early in 1989.
Be the first to comment on "Mosquito gold mine may reopen"