A feasibility study on a proposed open-pit, heap-leach gold-silver mine at the Talapoosa property in Lyon Cty., Nev., is expected to be completed in the second quarter.
Project-owner Miramar Mining (TSE) has calculated a proven and probable reserve of 29.9 million tons grading 0.026 oz. gold and 0.40 oz. silver per ton, containing 788,000 oz. gold and 12 million oz. silver. The resource is estimated at 45.1 million tons grading 0.025 oz. gold and 0.33 oz. silver. Recovery of the contained gold is estimated at 55-60%.
The Talapoosa lies 20 miles east of Miramar’s 60%-owned Golden Eagle mine, which produced 4,252 oz. gold and 47,721 oz. silver in the first three quarters of 1995.
The remaining 40% interest is held by American Eagle Resources (NASDAQ).
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