Strike set at Holt

At presstime, the existing contract for 140 workers at the Holt-McDermott gold mine in Kirkland Lake, Ont., was about to expire and the United Steelworkers local 6409 was preparing to hold a strike vote.

The union was upset that the mine’s owner, Barrick Gold (ABX-T), had not offered a new contract. “The company refuses to bring forward a monetary offer,” said the local’s president, Jean Arsenault. “They simply do not want to negotiate at all.”

In 2001, the mine produced 83,577 oz. gold at a total cash cost of US$165 per oz. Production in 2002 is expected to climb to 90,127 oz. at a total cash cost of US$148 per oz. The increase is anticipated as a result of higher grades mined from the lower ore zones.

At the end of 2001, the mine had reserves of 1.4 million tons grading 0.21 oz. per ton, or 294,000 contained ounces. Surface exploration this year will concentrate on east-west extensions of the South zone and on geophysical anomalies outlined by induced-polarization surveys. Underground exploration will test depth extensions and potential continuity between known zones.

In all, 84,000 ft. of diamond drilling are planned.