A review of the metal potential of the Gympie tailings is in progress. An auger hole program has been completed across accessible areas of the three dams. Samples were collected to provide an initial assessment of the metal grade, distribution and metallurgical characteristics of the tailings prior to committing to a more rigorous program of drilling and sampling. Results from the first batch of sampling indicate that the tailings contain gold grades up to 1.33g/t.
The company decided to close the Monkland operations. Mining will remove all available broken stocks, complete stoping of 13-47 and 124-49ELC and then remove all equipment for sale that can be retrieved economically. Final milling will continue into November, after which the lifters and liners will be removed to recover all trapped gold.
December 17, 2007
Reported to have completed the first series of RC drill holes, each of the 14 holes intersected fresh primary sulphides in highly altered zones within the sub-volcanic intrusive host rocks.
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