An encouraging engineering report and economic evaluation of a gold and silver placer mining project on the Neuquen River in Argentina has been released by private company Aldermines Corp. of Toronto.
The report-evaluation, prepared by consultant Donald A. Borne, projects a possible net profit of more than $13 million in the first year of operation. The company plans to be in production by the end of 1992.
Estimated reserves, based on spot and bulk sampling, are 50 million cubic metres of gold- and silver-bearing gravels.
Aldermines, which is negotiating a financing package, says its exploration program for the project is complete.
Be the first to comment on "LATIN AMERICA — Aldermines plans placer production"