Drilling on about 100-ft centres has outlined eight million tons of potentially economic heap leach reserves at Amir Mines’ Buffalo Gulch and Friday properties, in Idaho. The reserves grade from 0.03 oz to 0.04 oz gold per ton and bulk leach testing is planned this spring, says Amir.
The former falls under a joint venture agreement with Glamis Gold which can earn a 51% interest by achieving commercial production by 1989. Glamis must fund all exploration to a maximum of $1 million(US) through private placements in Amir and all development and production costs.
Amir and an associated company, Normine Resources, have entered into an agreement with Glamis on the Friday Group. The deal is almost identical to the previous one but will involve Glamis taking private placements in both companies. Amir and Normine will retain 24% and 25% interests in the group. Column and bottle roll testing has yielded good recoveries from unagglomerate sample material, says Amir. Several other zones exist on the two properties with further potential.
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