Grand Teton expects to produce in 1988

Vancouver-listed Grand Teton Industries fully intends to be producing gold by this time next year.

The company can earn a 50% interest in the Adelaide Crown property in Humboldt Cty, Nev.

But first, this Vancouver junior must bring the property, which has indicated reserves of 1 million tons grading 0.06 oz gold per ton, into production by next October.

It will cost an estimated $4.24 million to accomplish this.

Getchell Resources, of Kamloops, B.C. is the owner of the property.

Teton plans to first do column testing on the mineralized rock, do some delineation drilling and start heap leach pad preparation work.

The company expects to increase reserves after the operation is in production.

“Getchell and Grand Teton can look forward to a profitable mining operation in 1988 under the supervision of Gary R. Williams, metallurgical engineer and President of Icarus Exploration,” says Stefanos Vertopoulos, President of Grand Teton.

Grand Teton is based in Portland, Oregon.