MFC Mining Finance Corp. and Pioneer Metals Corp. have entered into an agreement with Hecla Mining which will see mfc and Pioneer process ore from Hecla’s Yellow Pine gold property in Idaho. Processing will take place at Pioneer’s Stibnite gold mine, which is shared equally between Pioneer and mfc.
Processing of the Yellow Pine ore will begin in 1988 and will be completed by 1991. The contract calls for the processing of 1.6 million tons of oxidized ore at a rate of 400,000 tons per year. During the 1987 operating season, the Stibnite mine produced 36,500 oz gold and 22,400 oz silver.
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