The installation of power lines to the site is expected to be completed sometime in March. Bids have also been awarded for a tailings dam. The access road from Wawa is also being upgraded and permanent staff quarters have been constructed.
Muscocho, Windarra and Flanagan hold a respective 25%, 25% and 50% interest in the project.
Project operator Muscocho has also completed an additional 20,000 ft of drilling designed to build reserves in areas accessible from the decline ramp. The partners have been successful in developing more reserves in the Upper and Curtis zones, Windarra says. Deep drilling has also intersected the main zone at a depth of 1,800 ft.
On the exploration property immediately joining the Magnacon project to the east, a majority of the drill holes completed have yielded low grade gold values. Windarra holds a 50% interest in these claims whereas Muscocho and Flanagan share the remaining 50% interest.
At the China and Discovery showings, gold mineralization is erratic and decreases in grade with depth. Muscocho has completed 17 holes in the area. The best results from the China showing came in a narrow 1.4-ft section grading 0.22 oz gold. Results from the Discovery showing include 5.2 ft grading 0.33 oz gold.
At the Hollinger showing, which yielded high grade grab samples, drilling failed to return comparable results.
]]>
Be the first to comment on "Magnacon project on schedule"