Favorable gold and silver drilling results have been reported by Teeshin Resources for its Dome Mountain project near Smithers, B.C.
In Boulder zone one, the average grade of gold indicated was 0.44 oz per ton, while the average grade for silver was 1.85 oz. Mineable reserve was reported to be 198,683 tons, and the geological reserve 28,000 tons.
In the Forks zone 3, the average grade for gold indicated was 0.36 oz, with a geological reserve of 20,000 tons. Teeshin advises the zone’s full potential is not known.
The company has concluded that property reserves, as of Nov 1, are economical, mined at 350 tons per day. Further exploration is planned. Teeshin estimates the final feasibility study and production decisions will cost $1.4 million. Production and development costs are not expected to exceed $10 million.
Total Erickson Resources can earn a 50% interest in the project by funding 80% of production and development cost. If Total Erickson elects to participate, Teeshin’s interest will be reduced from 75% to 37.5%.
A drilling program to further delineate the eastern extension of the Boulder and Argillite zones and exploration of the Kora zone has begun along with surface preparation for underground development. Underground exploration is expected to start before spring breakup.
Teeshin will undertake programs at Dome Mountain this year totalling $1.9 million, including a $500,000 exploration program to evaluate other known targets on the property.
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