An independent consulting firm has updated reserves and resources at the Madsen and Seabee gold mines, both of which are owned by
A.C.A. Howe International pegs Madsen’s minable reserves at 244,390 tonnes grading 8.55 grams gold per tonne and its total resources at 1.03 million tonnes grading 10.2 grams gold. Another 70,827 tonnes grading 12 grams are listed as proven reserves but, because of concerns over their extraction, are not considered minable.
Minable reserves at the Seabee mine stand at 559,808 tonnes grading 8.97 grams gold, whereas resources total 1.02 million tonnes grading 6.5 grams gold. A further 348,900 tonnes grading 7.2 grams are categorized as possible reserves.
Situated in northwestern Ontario, the Madsen mine historically produced 7.7 million tonnes grading 9.9 grams gold and currently yields 50,000 oz. annually. Reserves extend from surface to 275 metres, with resource blocks extending a further 960 metres; these are considered easy targets for upgrading.
Mineralization is associated with the Austin and McVeigh shear zones and is hosted by variably altered Archean-aged mafic volcanics. Several exploration targets are known in the existing workings, as well as along the property’s 10 km of favourable strike length.
The Seabee mine, a gabbro-hosted lode deposit, is in Saskatchewan’s La Ronge district. In 1998, the mine cranked out a record 60,200 oz. and historically has produced 377,000 oz.
Exploration drilling has pinpointed several near-surface targets outside the immediate workings, along a corridor measuring 2 km in width and 5 km in strike length. Producing zones also remain open at depth.
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