Official opening ceremonies for a gold mill in the village of Beardmore, Ont., were held this week by Ateba Mines (TSE) of Toronto.
The company is using an ore sorting machine to upgrade mine waste dump material from former- producing mines in the area. The machine rejects barren rock from the feed material which goes to the mill.
Ateba plans to eventually pour 1,000 oz of the yellow metal each month. By June monthly production should be 750 oz.
Gold production costs are about $225 per oz, according to General Manager Stephen Wilkinson.
Engineering studies are under way to test the feasibility of expanding the 200-ton-per-day mill to 400 tons.
The company has enough dump material to keep the mill running for about 2-3 years. A number of promising gold properties in the Geraldton/Beardmore area, however, are being investigated by Ateba for their mine-making potential.
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