Banner year for Sullivan

MAY 1951

Sullivan Consolidated registered its best year since 1943, after taking into account the added revenue from the East Sullivan gold mine in Bourlamaque Twp., near Val d’Or, Que.

Total profit in fiscal 1950 amounted to more than $1.3 million, or 33.5 per share. Net profits from its own gold operations amounted to $291,010, or 7.3 per share.

The mine treated 181,381 tons of ore at an average daily milling rate of 497 tons.

Reserves also received a boost, rising to 616,980 tons grading $8.63 per ton (based on $35 per oz. gold), compared with 613,310 at $8.60 per ton in fiscal 1949.

The current fiscal year has started off well and is expected to be on a par with 1950. The mill is processing about 500 tons per day.

The ore potential at Barnat Mines, 65 km east of Rouyn-Noranda, Que., is expanding rather nicely as development work proceeds in the new North zone.

Mine manager R.R. Basserman expects that 2-2.5 million tons of ore grading 0.28 oz. per ton will be mined from the National Shaft this year. The shaft was deepened to 1,425 ft. in the previous year.

Two objectives include establishing the “national shaft” as the main operating opening and preparing the North zone, on two levels, for mining.

Once the national shaft is fully operational, it is expected to reach a milling rate of 15,000 tons per month, with most of the ore coming from the National South zone.

Golden Manitou Mines is well on its way toward establishing itself as one of the largest base metal mines in northwestern Quebec.

Profits at the mine are rising as output grows. April is expected to be the best month in the mine’s history. Preliminary figures suggest that an operating profit of $250,000 on production valued at $400,000 will easily be achieved. On one day in particular, as many as four cars of premium-grade zinc concentrate, weighing more than 200 tons, were produced.

Management figures the mine should have no trouble reaching its goal of $2 million in operating profit.

In addition to its base metal property near Val d’Or, Que., the company controls the Barvue mine, in Barraute Twp., 40 km north of the town. The company is now considering bringing the big, low-grade silver-lead-zinc property into production at the daily rate of 4,000 tons.

Falconbridge Nickel Mines intends to boost its annual production capacity to 40 million lbs. from 30 million lbs. over three years.

As part of the plan, the company plans increase the daily milling rate at the Hardy mine, west of Inco’s Levack operation, to 1,000 tons. Also, shaft-sinking to 1,200 ft. is already in progress.

At the main mine in Sudbury, drilling has established that ore continues to a depth of 5,700 ft., more than twice the depth at which mining is currently conducted.