Vancouver – With resource estimates in hand, International Wayside Gold Mines (IWA-V) aims to add the Bonanza Ledge and BC vein deposits to its proposed mine plan for the Cariboo gold project in the histroric Barkerville area of central British Columbia.
Vancouver-based Giroux Consultants determined that the Bonanza Ledge find holds an indicated resource of 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 Bonanza Ledge prospect in 2000.
The associated BC vein carries 295,742 tonnes grading 4.82 grams gold in the indicated section and 291,206 tonnes grading 2.18 grams gold in the inferred category.
The report was based on 117 diamond drill holes completed from 1998-to-2002, combined with 550 surface channel
The latest resource calculation goes hand-in-hand with the earlier Cow Mountain indicated and inferred resource of 6.01 million tonnes grading 2.02 grams gold and 1.52 million tonnes grading 1.68 grams gold, respectively.
The total indicated resource for all three zones, using a 0.62 gram gold cut off, tallies 6.62 million tonnes averaging 2.43 grams gold, plus 1.86 million tonnes grading 1.84 grams gold slated in the inferred section.
A scoping study looking into the possibility of open-pit mining all 3 areas using a central milling facility is underway.
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. The project centres on the historic Cariboo Gold Quartz, Island Mountain-Aurum and Mosquito Creek mines, which collectively 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 BC Ministry of Energy and Mines has already issued a permit allowing the junior to complete 3-km of road and bidge constuction to connect the areas of the proposed open-pits from Cow Mountain to Barkerville Mountain. The company plans to have this work finished shortly.
A public meeting outlining the proposed mine plan is slated for Dec. 11 in Wells, BC.
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