Plans filed for Montana mine

The proposed McDonald gold mine in Montana has moved one step closer to reality.

Partners Phelps Dodge Mining and Canyon Resources (NASDAQ), which own 72.25% and 27.5% respectively, have filed a plan of operations with state authorities.

The proposed open-pit, heap-leach mine is targeted to produce 3.7 million oz. gold and 8 million oz. silver from 205 million tons of ore, over a 15-year period.

By filing the plan of operations, the joint venture has set into motion the permitting process. The plan contains information on site conditions, environmental studies and operating and reclamation plans, as well as 26 volumes of engineering and environmental studies.

The joint venture expects all necessary permitting to be completed by 1996. A chief requirement is that the environmental impact statement be approved by both state and federal authorities.