The company says the mine is scheduled to produce about 17,500 oz of gold equivalent to the end of 1989 from the processing of 500,000 tons ore. The projected production cost is less than $150(US) per oz.
Bema says it expects to pay back the estimated $2 million(US) pre- production capital cost in 3-4 months.
Drilling indicates mineable reserves of 2.4 million tons grading 0.038 oz per ton gold equivalent. Additional inferred reserves of a similar grade total two million tons.
The Champagne mine is operated by Idaho Gold Corp., which is 85% owned by Bema and 15% by Glamis Gold (TSE).
Bema was created last year through the amalgamation of Amir Mines, Normine Resources and Bema International Resources.
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