Crown Butte Res. awaits approval

Annual output at Crown Butte Resources (TSER) New World project in Montana is projected to be 130,000 oz. gold. The company is awaiting a decision on an environmental impact statement which would enable it to develop a 1,500-ton-per-day underground mine.

Hemlo Gold Mines (TSE) has a 60% interest in Crown Butte and could claim about 78,000 oz. gold per year to its credit. An earlier story (T.N.M., Oct. 4/93) confused the production projections.

Crown Butte’s permit will allow it to mine only from underground, with mineral processing by gravity and conventional flotation circuits. Reserves from two deposits stand at 7.9 million tons averaging 0.25 oz. gold and 1.04 oz. silver per ton, and 0.74% copper.

Joe Baylis was recently named president of Crown Butte, succeeding David Rovig, who will remain a director.

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