A positive feasibility study has been received by Lencourt Ltd. for the company’s silver property near Gowganda, Ont. The report concludes that the property be brought to production to yield 350,000 oz of silver per year, operating at a rate of eight months per year.
Reserves as tailings total 1.8 million tons grading 1.4 oz silver per ton. These have been proven by more than 700 drill holes, Lencourt says. Mining will include grinding, cyanide leaching, zinc precipitation and refining. Reserves are adequate for a 7-year mine life.
Financing for the $4.5 million project has yet to be arranged. Once completed, Lencourt plans to commence with the project with the objective of starting operations by April, 1988.
Be the first to comment on "Lencourt is positive on silver property"