Vancouver —
Bonanza Ledge has an indicated resource of about 337,472 tonnes grading 7.43 grams gold per tonne, plus an inferred resource of 39,916 tonnes grading 5.57 grams gold. The Frank Callaghan-led junior discovered the prospect in 2000.
The associated BC vein carries roughly 295,742 tonnes grading 4.82 grams gold in the indicated category, plus 291,206 tonnes grading 2.18 grams gold in the inferred.
The estimates are based on 117 diamond drill holes completed from 1998 to 2002, combined with 550 surface channel samples.
A third zone, Cow Mountain, has an indicated resource of 6 million tonnes grading 2.02 grams gold, plus an inferred resource 1.5 million tonnes grading 1.68 grams.
The total indicated resource for all three zones, using a cutoff grade of 0.62 gram gold, is about 6.6 million tonnes averaging 2.43 grams gold, plus 1.86 million tonnes of 1.84 grams gold in the inferred category.
Wayside has launched a scoping study to determine the potential for mining all three zones by open-pit methods and processing the ore at a central mill.
Wayside has been operating in the district since 1994, when it optioned the Cariboo group of claims from Mosquito Creek Mines. The Cariboo gold project comprises 445.1 sq. km, 85 km east of Quesnel, and centres on three historic mines: Cariboo Gold Quartz, Island Mountain-Aurum and Mosquito Creek. Combined, these produced more than 1.2 million oz. from 1933 to 1987.
Early work by Wayside targeted the bulk-tonnage potential of the Sanders, Pinkerton and Rainbow zones of the historic Cariboo Gold Quartz mine, on the flank of Cow Mountain.
The British Columbia Ministry of Energy and Mines has issued a permit allowing the junior to complete 3 km of road and bridge constuction connecting the areas of the proposed open pits from Cow Mountain to Barkerville Mountain.
A public meeting outlining the proposed mine plan was set for Dec. 11 in Wells, B.C.
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