Before the end of the year, Sigma Mines expects to extend its main operating shaft to a depth of 3,000 ft.
Although still relatively shallow in comparison with other Canadian mines, the shaft will be the second deepest in the Val d’Or region of Quebec.
The shaft remains second only to its neighbour, Lamaque Gold Mines, which has established its main shaft at a depth of 3,600 ft.
The deepening of the shaft is significant considering that only 1% of the ore mined to date has come from below the 10th level, situated at 1,225 ft.
The shaft work, which started late last year, is being carried out on a 2-shift per day basis, with the 20th level established at a depth of 2,550 ft. The new bottom level will be the 23rd.
Fans of the Kerr-Addison mine near Kirkland Lake, Ont., can remain confident that the mine will retain the title of Canadian gold champion for years to come.
There’s no sign of middle-age slowdown when the champ can come up with its best performance after 13 years in the ring.
Some of the best drill results in the mine’s history are coming from the deepest horizons yet investigated. And when compared with shafts at the nearby Kirkland Lake and Porcupine operations, the shafts are still quite shallow.
The famous “21” vein has yet to be drilled from the 2,350 or 2,650 levels.
Steep Rock Iron Mines is maintaining ore output at a fast clip.
Production is 40,000 tons ahead of the corresponding date last year, and 70,000 tons ahead of schedule for this year’s goal of 1.2 million tons. By the last week of May, 262,364 tons had been cleared from the docks at nearby Thunder Bay, Ont.
Production is running at the daily rate of 11,000 tons, and diamond drill exploration, employing four rigs, is under way.
Meanwhile, sinking of the shaft at the Errington mine has reached a depth of 200 ft.
International Nickel Co. is following through with its promised 5% increase in output.
The nickel giant is producing 1 million more pounds of nickel per month than it did in the corresponding period last year.
It’s almost certain that net profits will reach $4 per share. Net sales by the company last year amounted to $228 million; this year, the figure is exa
In the first quarter, $14.7 million was netted, after $10.9 million for taxes and $3.2 million for writeoffs and the pension plan.
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