Cusac develops Table Mountain

Cusac Gold Mines (CQC-V) intends to use the proceeds of a recent $3-million financing to bring its wholly owned Table Mountain gold mine back into production this spring. The fully permitted mine, which had been on care-and-maintenance since 1999, is located in the Cassiar Mountains of northern British Columbia.

The mine produced 400,000 oz. gold at an average grade of 0.45 oz. per ton since 1978. A 300-ton-per-day mill and supporting infrastructure are ready to go.

Initial mining will focus on the East Bain Vein, where 24,400 tons grading 1 oz. gold has been outlined. The vein is 5 ft. wide on average, and near vertical.

The mine plan points to a $4-million gross profit that could be realized the first year of mining at cash costs of US$180 per ounce, based on US$325-per-oz. gold price.