Treminco to test mine NWT gold bet

The company recently optioned the gold property from Giant Yellowknife Mines (TSE). The option allows Treminco the right to earn a 51% interest over a 4-year period by either spending at least $4 million on exploration, development and test mining of the property; or by presenting a positive feasibility study acceptable to both Treminco and Giant.

The Crestaurum property is reported to have a drill-indicated reserve of 320,000 tons grading 0.22 oz gold per ton. The test mining will initially come from a small open pit of 4,000-5,000 tons.

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