Referring to reserve calculations recently completed by Keewatin Engineering, Trillion Resources (ASE) says the Jena Mines gold property in central Zimbabwe will have a mine life of 11 years. Keewatin estimates reserves in all categories to be 1.75 million tons grading 0.17 oz. gold per ton. With an infusion of capital, Trillion says, daily production of the underground ore could be increased from the current 150 tons per day to 500 tons per day. By investing $2.5 million in the development project, Trillion can earn a 50% interest in Jena Mines, a collective term assigned to a number of past and present producers within a 40-sq.-km claim group. Jena is currently owned by the Zimbabwe Mining Development Corp. Previously announced results from a 12-hole program outside the mine area, including a 244.7-ft. intersection grading 0.18 oz. gold on the Stump North zone, indicate good potential for additional reserves. Based on a gold price of US$350, total capital cost over the life of the mine is estimated to be US$9.7 million, with a net cash flow of US$26.1 million. Production costs would be US$216 per oz.
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