USMX moves ahead with Illinois Creek

The Illinois Creek gold project in Alaska is undergoing a feasibility study as environmental permitting is carried out.

USMX (NASDAQ) hopes to have final permits in hand as early as June.

The gold-silver deposit contains 5 million tons of drill-defined mineralization at a gold-equivalent grade of 0.074 oz. per ton.

The company plans to mine the deposit over five years. Heap leaching would recover more than 50,000 oz. gold per year. While leaching is scheduled to be year-round, the shortened field seasons would limit mining to six months per year.

USMX, through an agreement with an Alaska native corporation, controls 62,480 acres of mining leases surrounding the deposit.

Print


 

Republish this article

Be the first to comment on "USMX moves ahead with Illinois Creek"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close