Madison Grant Resources says it is negotiataing with several potential joint venture partners interested in the company’s gold-silver mine near Virginia City, Mont. An independent geological report on the prospect indicates that the property has proven and probable reserves of 220,000 tons with recoverable grades of 0.23 oz. gold per ton and 3.37 oz. silver.
Currently, the company has a stockpile of 4,000 tons outside the mine’s 84-ton-per-day mill. Madison says it expects to be in full production by the first quarter of 1991, once modifications to the mill have been made.
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