The largest undeveloped gold resource in Canada, the Tundra deposit hosts reserves of 32.5 million tons grading 0.2 oz gold per ton at 0.12-oz cutoff grade. At a 0.29-oz cutoff grade, geologically- inferred reserves are estimated at 4 million tons grading 0.4 oz.
Gold mineralization is associated with a series of shear-hosted zones. The underground program is designed to examine the zones for continuity and mineability. The program will include 7,000 ft of drifting, crosscutting and raising on the 1400-ft level and 100,000 ft of diamond drilling using four rigs.
Bulk sampling will also be conducted to aid in metallurgical testing. The Tundra deposit is arsenical and refractory. Initial testing on rock from core gave gold recoveries of 90% using standard flotation techniques and recoveries in excess of 95% after pressure oxidation.
Total has a 49% interest in the property while Noranda and Hemlo hold 25.5% each.
The shaft sinking was completed in 13 months. The exploration program is scheduled to be completed over a 24-month period.
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