The mine was in a care and maintenance stage while the nature and the extent of future production activities, if any, are determined.
The mine was developed in 1986, when seven shafts were sunk during the exploration phase. From these seven shafts, two shafts can be retained as main production shafts. They are both less than 150 m deep, and will need to be deepened further to allow the ore body to be exploited to its maximum potential.
March 31, 2000
Reports state that during fiscal 1999, management completed an internal feasibility study resulting in the positive conclusion that the ore body at the Rex Mine can be mined profitably. The formulated mine plan indicates that the Company could continue development and commence commercial operations provided that financing becomes available.
March 31, 1998
It was reported that the mine was put on care and maintenance in February in anticipation of a systematic planning schedule and feasibility study. Difficulties were encountered in defining the fissure system which led to the low recovery grades. The reopening of Rex will be planned once a full feasibility study has been completed.
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