Guilford Brett, president of the associated companies, said the contract is well within industry standards and will ensure an ongoing production base until the companies can build their own mill.
About 6,000 tons of ore grading between 0.6 and 0.65 oz gold is broken in the stopes for immediate delivery to the mill, with an additional 10,000 tons of similar grade at the 750-level being prepared for mining.
Proven and probable reserves at the mine are reported as 90,000 tons of 0.6 oz gold, with an additional 150,000 tons drill-inferred. An underground drill program is under way to prove up further tonnage.
The companies recently acquired an adjacent property that can be accessed from the 750-level of the Cruse-Belmont mine. An extensive exploratory program is planned for 1989.
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