Junior Treminco Resources has changed its name to
Shares of Elkhorn are now trading on the Toronto Stock Exchange; no consolidation or subdivision of capital was associated with the name change. The new name reflects the company’s wholly owned Elkhorn property in Jefferson Cty., Mont., which has a measured, indicated and inferred resource of 686,000 oz. gold contained in 2.8 million tons averaging 0.24 oz. gold per ton. The diluted proven, probable and possible resource weighs in at 1.2 million tons averaging 0.301 oz., or 362,000 contained ounces.
The calculations are based on a cutoff grade of 0.15 oz. gold. The mine life is pegged at 6.5 years, and annual gold production, at 52,000 oz. Average cash costs are expected to be US$192 per oz., whereas capital costs over the life of the mine are projected at US$19.7 million.
State authorities recently approved a plan to begin mining a 9,200-ton bulk sample.
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