A positive feasibility study has been received by Radisson Mining Resources (ME) for its Duquesne gold project in Destor Twp., 18 miles north of Rouyn-Noranda, Que.
Total reserves at the property as of Oct 28 stood at 748,265 tons grading 0.25 oz gold per ton, including a 15% dilution factor at zero grade. Probable reserves totalled 565,330 tons averaging 0.26 oz, while possible reserves stood at 182,935 tons grading 0.21 oz. The feasibility study is based on the probable reserves.
The company must raise $8 million to bring the project to the production phase, President Guy Bourassa said. Once the money is available, a decision to enter production could be made within three months, he said.
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