Nor-Quest Resources reports it has acquired outright an established 1,200-ton-per-day mine, mill and land located near Salmo, B. C., on a 2,000-crown-grant mining property.
The company says negotiations have started with other mining companies to joint venture the development of gold/silver deposits in the area. Nor-Quest has carried out engineering studies which indicate the feasibility of hauling mined ore up to 50 miles to the mill.
Replacement cost of the facility would be in the order of $15 million, Nor-Quest estimates.
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