A 20-hole drill program is scheduled for the Cryderman property in Manitoba’s Rice Lake greenstone belt, 150 km northeast of Winnipeg.
Owner Mid-North Resources (MNU-A) will be testing a gold showing discovered in the 1920s, a 160-metre-long vein with an average width at surface of 4.3 metres, along with several smaller showings.
The company’s target is a small, bulk-minable deposit that would serve as a source of millfeed for Rea Gold’s (REO-T) nearby Bissett operation.
The Bissett is scheduled to enter production in 1997.
Minable reserves at Bissett are estimated at 3.2 million tons grading 0.252 oz. gold per ton. Annual output is estimated at 80,000 oz. gold annually at an estimated cash cost of US$238 per oz.
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