The Beauchastel mining installations of Augmitto Explorations (TSE) near Rouyn-Noranda, Que., will not be purchased by Radisson Mining Resources (ME). Radisson, searching for milling facilities for its Duquesne gold mine project north of Rouyn-Noranda, announced its decision after completing its due diligence.
Under a proposed agreement with Augmitto, Radisson would have acquired a 75% interest in the Beauchastel project by paying Augmitto’s creditors $2.2 million and by making a $300,000 loan to Augmitto. The mill on the property has yet to be completed.
Meanwhile, Radisson says it is negotiating a longterm milling contract with another company.
Radisson has completed the sampling of its first 4,071 tons of ore from its Duquesne project. The sample yielded about 1,462 oz. gold, confirming, the company says, previous tests indicating a head grade of 0.36 oz. gold per ton and a recovery rate of 97.7%.
This first sample was treated at the Sleeping Giant mill of Aurizon Mines (TSE), north of Amos, Que. A second sample about 7,000 tons in size is to be treated before March 15.
Radisson has a contract with Aurizon covering the milling of more than 20,000 tons at the Sleeping Giant property.
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