At its Nixon Fork project in west-central Alaska, Consolidated Nevada Goldfields (TSE) has identified six new areas of mineralization and expanded minable reserves by 29,730 oz. gold (a 22% increase).
The program included 25,000 ft. of diamond drilling and 3,000 ft. of underground development, the result of which is that proven and probable reserves are now calculated at 122,549 tons averaging 1.33 oz. gold per ton. Possible reserves are estimated at 39,160 tons grading 0.96 oz. An updated feasibility study is expected shortly and the company intends to place the project into production by September.
Elsewhere, at the company’s Aurora gold mine in Nevada, a revised mining plan has increased the number of minable ounces by 32% to a total of 38,900 oz. Minable reserves here are now estimated at 316,000 tons grading 0.12 oz. Recent exploratory drilling, 700 ft. east of the currently defined zone, returned 32 ft. grading 0.23 oz. for hole C9555. Meanwhile,
follow-up drilling is attempting to delineate the Juniata vein.
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