In the meantime, the company is finalizing plans for the construction of an airstrip on the property to better handle expediting activity from nearby Stewart.
The company said the airstrip would reduce associated transportation costs by as much as $500,000 per year and provide a more reliable means of access to the property on a year-round basis. A decision on approval is expected from the government within the month, and construction time is estimated at about six weeks.
Catear has been operating a small 50-ton-per-day mill which it plans to upgrade by the addition of flotation and other mining equipment. The project is reported to have 40,000 tons of proven reserves grading 0.825 oz gold, with reserves in all categories of 319,000 tons at 0.80 oz gold per ton.
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