That Canamax Resources is bringing yet another mine into production hardly rates as news anymore. True news would be that this aggressive producer/explorer isn’t cutting the ceremonial ribbon on another new mine. One mine last year, another two this year * * * Is this geometric growth? Can we expect four new producers next year? Or is this a rabbit warren and not Canadian gold mining we’re talking about here? “Stay tuned,” says Canamax President John Hansuld, “we’re only just beginning.” For Canamax, this is the K-mine year: Ketza (see page 33 and Kremzar. This property is northeast of Wawa, near Goudreau, Ont. The company dates its serious interest in the Kremzar property back to 1983.
It has since spent about $5 million on surface and underground exploration. Strong gold values have also turned up on adjacent lands. For example, on a wide regional-scale shear zone striking across Canamax’s Lochalsh property, drill cores cut strong gold mineralization. So it all looks rather promising.
The Kremzar reserves have been set at a bit less than 900,000 tons grading 0.189 oz gold per ton. But with recent exploration on the adjoining properties and indications from the Kremzar that there’s more to the ore zone at depth, this could turn out to be a mine with a long life ahead of it. Kremzar Notebook Location: ……. Goudreau, Ont. Major owners: ……. Canamax Resources (100%) Commodity: ……. gold Discovery date: ……. 1984 Production decision: ……. March, 1987 Start-up: ……. September, 1988 Capital costs: ……. $20.3 million Operating costs: ……. $205 per oz Reserves: ……. 874,300 tons grading 0.189 oz per ton (proven and probable) Means of access: ……. ramp to the 754-ft level Extent of vertical workings: ……. unavailable Mining method: ……. cut-and-fill, sublevel retreat Mining equipment: ……. trackless Production rate: ……. 500 tons per day Milling plans: ……. on-site, carbon-in-pulp Mining contractors: ……. Mining Corp. Status: ……. pre-production
Be the first to comment on "A BREAKNECK PACE Kremzar"