Theresa timbers could support mine Duration concludes

Initial results from the Theresa mine project shared equally by Duration Mines and Locator Explorations have been encouraging, the companies say. The 3-compartment shaft, which has been dewatered to a depth of 300 m, is in good condition and is capable of supporting a 300-500-ton-per-day mining operation, William Hill, executive vice-president, mining for Duration, concludes.

Gold mineralization has been traced for 2,500 m along strike on surface and to a depth of 300 m. The zones remain open in all directions, the partners say. Definition drilling is being conducted by two rigs from underground stations which will test the zone from surface to the 300-m level.

Also, the joint venture has acquired an option to purchase a 100% interest in 15 claims adjoining the Theresa project. The option was acquired from Conscot Resources for $15,000 on signing and a work commitment to bring the claims to lease. These claims are subject to a 3% net smelter royalty.