A $2-million 15,000-m drill program is being proposed by partners Inco Gold and Golden Knight Resources for their jointly held Golden Pond property in Quebec’s Casa Berardi area. The program will test a section of ground between the Golden Pond west and main zones. The area, which has only seen limited testing, has the potential for hosting additional reserves which could be developed quickly due to proximity to Golden Pond west, Golden Knight says.
The surface exploration program is in addition to the $9.7-million underground program under way at Golden Pond west. An exploration decline is being driven which will provide access for bulk sampling and underground exploration work. On the nearby Golden Pond east deposit, the partners are readying the site for production in August, 1988. The partners note that the construction project is on schedule. The initial milling rate of 880 tons per day will yield annual gold output of 60,000 oz. However, the mill is being designed to handle up to 1,320 tons of ore per day when Golden Pond west is in production. Ultimately, the partners intend to increase the milling rate to 2,000 tons per day.
Inco and Golden Knight hold a 60% and 40% interest in the project respectively.
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