The first revenues from gold production have been received by Rockford Minerals (TSE). The production is coming from the Barber Larder open pit near Larder Lake, Ont. Ore is being trucked to the Kerr Addison mill at nearby Virginiatown by project operator Golden Shield Resources (TSE). Revenues to Rockford are estimated at $70,000 per month.
The Barber Larder property is one of three mine developments comprising the Larder Lake project. The other two include the Cheminis and Fernland.
A majority of the $12 million spent by the partners to date on the project, has been directed towards the Cheminis development, located four miles west of Virginiatown. Hosting a mineral inventory of 2.5 million tons grading 0.17 oz gold per ton, the Cheminis is developed by a 1,085-ft shaft and 5,324 ft of lateral workings.
Additional reserves have been outlined in a newly discovered zone located 500 ft north of the Cheminis workings. Called the North zone, the lens remains open along strike and at depth. Reserves of 100,000 tons grading 0.18 oz have been drill- indicated.
Golden Shield and Rockford hold a 68.5% and 31.5% interest in the project respectively.
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