Greater Lenora to decide on Goldfields

Greater Lenora Resources (TSE) will decide in January whether to bring its Goldfields project into production.

The company is in discussions with merchant banker Rothschild Denver to arrange debt financing for the project, and seven mining companies are examining the feasibility study prepared by consulting firm H.A. Simons. Greater Lenora had previously announced it would sell the properties if a suitable bid was made by the beginning of December.

The Goldfields project includes the Box and Athona properties on the north shore of Lake Athabasca in northern Saskatchewan. The deposits have a total minable gold resource of 900,000 oz. in an estimated reserve of 27.2 million tonnes grading 1.85 grams gold per tonne.