In response to the recent rise in the price of gold, Greater Lenora Resources (TSE) is considering carrying out a final feasibility study on the Goldfields property in northern Saskatchewan.
The property contains two open-pitable deposits with combined proven, probable and possible reserves of more than 29.9 million tons grading 0.054 oz. gold per ton.
In 1988, a prefeasibility study on the deposits, which had been previously mined from underground, indicated cash production costs of US$220 per oz. In other news, Hemlo Gold Mines has begun a second drill program on Lenora’s Omega property near Larder Lake, Ont. Previous drilling returned values up to 0.286 oz. gold per ton over nine feet.
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