Remember the little Flin Flon Mines operation, just west of the Manitoba own after which it was named? It didn’t work out and wound up in receiver ship. Then last year a Regina-based oil company, Vista International Petroleums, picked up both the mine and mill from the receiver for $600,000. The assets have since been spun off into Vista Mines, and the new co mpany hopes to begin produ ction by July on the mine, now called the Bootleg.
It’s a small deal: a 125 ton-per-day plant and 183,871 tons of reserves averag ing 0.35 oz gold per ton. At least that is what the company believes it has. It is now conducting a very comprehensive exploration program in order to prove up those reserves. The deposit is being drilled off on 25-ft spacings. The company estimates total onsite costs at less than $50 per ton, which would give it some leeway at today’s gold price. The complex includes an assay lab, 7-year tailings pond and a full compliment of mining equipment. It can pour gold bricks right on site.
Vista also has a number of other properties — 15,000 acres in all — in the immediate area, some of them with small reserve inventories. It will be carrying out exploration on these as well.
Down the road Vista hopes to increase production to as much as 350 tpd if it can prove up additional reserves.
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