Coeur d’Alene Mines (CDE-N) has received permission to develop, the Kensington gold project, 45 miles north of Juneau, Alaska.
The company is engaged in studies with independent consultants aimed at locating additional reserves and reducing capital and operating costs.
Several additional targets hold potential for increasing the size of the overall deposit, the company reports.
The project was last estimated to contain 1.9 million oz. gold, contained in 13.9 million tons grading 0.14 oz. per ton.
The company says it will hold off on construction until the price of gold increases. The construction schedule, once it begins, is expected to last 18 months.
Kensington is expected to produce 200,000 oz. gold annually.
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