Development work continues at the Bagdad gold mine in Granite Cty., Mont., where Mark V Petroleums and Mines (VSE) is planning to start a small 200-ton-per-day operation, June 30.
While the Vancouver company has not yet received permission from environmental authorities to begin a full scale mining operation, it is currently installing a 3-compartment, 200-ft raise in one of the high-grade ore shoots on the South Bagdad vein.
Mark V is also stockpiling ore for shipment to a 1,000-ton-per-day custom milling facility in nearby Philipsburg. If and when mining operations begin, the Bagdad mine is scheduled to churn out 50,000 oz gold and 184,000 oz silver during its first year.
Before starting the mine development process on the first high- grade shoot, the company completed 890 ft of drifting on the South Bagdad vein. “At the face of the drift, the vein appears to be at least 8 ft to 10 ft wide and well mineralized with visible galena and chalcopyrite,” said President Leslie Hart.
“The vein has been traced on surface for over 3,000 ft and, considering the strong structure underground, there’s little doubt that the vein will extend at least that distance”, he said.
As reported (N.M., March 28/88), mineable reserves at Bagdad stand at 116,728 tons grading 0.631 oz gold and 3.68 oz silver per ton but Mark V has identified nine other veins on the property.
While the Vancouver company has not yet received permission from environmental authorities to begin a full scale mining operation, it is currently installing a 3-compartment, 200-ft raise in one of the high-grade ore shoots on the South Bagdad vein.
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