The Union heap leach project operated by Sumac Ventures (VSE) near Grand Forks, B.C., generated gross revenue from the six heaps to Oct 1, of $659,804, the company reports.
Sumac is treating tailings (and eventually dumps) from the old Union mine, which was once the principal producer of the historic Franklin camp. The project is operated under a lease at 6% net smelter royalty.
Production in 1987 was 241.5 oz gold and 9,153.9 oz silver, while gold production in 1988 from April to early August was 282.7 oz gold and 8,552.5 oz silver. To date the company has heaped about 60,000 tons, including 11,500 tons that were heaped and partially leached in 1987. Sprinkling and gold and silver recovery are expected to continue until freeze-up, which last year was early December.
The company is also exploring nearby claims where exploration exposed gold and silver veins. The company reports assays ranging from 0.29 oz gold to 1.67 oz gold over widths of 8 to 4 ft respectively. At present, Sumac has a 51% interest in these claims, some of which are also under lease at 6% net smelter royalty.
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