The Ketza River gold mine enjoyed its best operating month yet since starting operations last summer. Operated by Canamax Resources (TSE) and held equally with Pacific Trans-Ocean Resources (TSE), the Yukon mine yielded a mill head grade of 0.42 oz gold per ton for the month of September. The mill processed 10,546 tons of ore with a calculated head grade of 0.4 oz.
The results come as welcome news to Pacific Trans-Ocean which was particularily hurt by operating shortfalls at the mine during its first months of life. The shortfalls failed to meet certain gold loan covenants. This was also exasberated by capital expenditure overruns which Pacific had to pay. Both problems are being solved with interim financing.
Canamax, Pacfic says, is investigating the reasons for the previously reported discrepancies between higher grades mined and the lower grades assayed in the mill. The improved performance in September suggests that the higher mine grades initially used, are probably valid, Pacific says.
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