Encouraged by ongoing deep drilling at the Golden Patricia property near Pickle Lake, Ont., Bond Gold Canada, a unit of Bond International Gold (TSE), will sink a 1,100-ft. shaft at the mine starting in July.
The shaft will give Bond “the flexibility to increase production and reduce costs,” said Gerry Gauthier, senior vice-president of operations for LAC Minerals (TSE) at a recent annual meeting. LAC holds a 65% stake in Bond International.
Gauthier said the best results have come from below current workings at the western half of the mine. Drilling is continuing in this area.
Golden Patricia produced 81,000 oz. gold in 1990. During the same period, reserves increased by 14% to 560,000 tons grading 0.55 oz. per ton.
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