Production begins at Sikaman project

Production has commenced at Sikaman Gold Resources’ (TSE) Sol Wood placer mine in Sierra Cty., Calif. The mine is expected to produce 25,000 oz. gold by October, 1993, and generate a cash flow of $4 million to Sikaman during this 10-month period.

In other news, Sikaman has an option to purchase about 1,100 acres of placer mining claims in the Seneca mining district of Plumas Cty., Calif., for a cash payment of US$500,000. The acquisition cost will be paid through a 10% net smelter royalty from production and monthly cash payments of $2,000 commencing in December, 1992.