Exall and St Andrew sign milling pact

Ore from the Glimmer gold project near Matheson, Ont., will be processed at the nearby Stock Twp. mill of St Andrew Goldfields (TSE). Exall Resources (TSE) owns 60% of the Glimmer mine.

The Stock mill had been processing feed from St Andrew’s nearby Stock and Hislop gold mines until December 1994, when both were shut down owing to a lack of reserves. While the mill is approved for the processing of 1,000 tonnes per day, the agreement with Exall will see it process just 5,000 tonnes per day from the Glimmer mine. The deal runs for three years but can be extended after the third year, in 1-year intervals. Exall can terminate the contract, with 60 days notice. As part of the agreement, St Andrew will place the mill in working order and install a gravity circuit at its expense.