Englewood, Colo.-based Echo Bay Mines (ECO-X) has increased its land position around the Aquarius gold project, near Timmins, Ont.
The company is diamond drilling in an attempt to find the continuation of the gold-bearing structure to the east of the existing deposit, which could be developed into an open-pit operation at an estimated cost of $100 million.
Timber from the site has been harvested and construction of a road to service holes for an underground freeze wall has begun.
Final environmental studies have been completed, according to the company, and mining permits are expected to be in hand by the end of 1997.
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