McAdam completes financing deal

Toronto-based McAdam also reports a test-milling program is being prepared for April at the Spud Valley gold project on Vancouver Island. Rehabilitation of the project’s 7 level on the Goldfield vein should be completed by early February. A raise from the 7 to the 6 level on the Goldfield is then to be rehabilitated.

Also, a 400-ft raise is being driven on the Linton North vein and a sublevel will be driven and sampled, to establish the grade on the 6 level, the company says.

Near Rouyn-Noranda, Que., underground exploration continues at the McWatters gold project with drifting and drilling using three machines, the company reports.

Start-up of a bulk-sampling program involving removal of 5,000- 10,000 tons of ore is planned for March. The material will be processed at a nearby milling facility.

]]>