Partners reviewing Golden Pond study

The Golden Pond feasibility study has been completed by Inco Ltd. and is being reviewed by the project partners, an Inco spokesman tells The Northern Miner. The Golden Pond project, located in Casa Berardi and Dieppe twps., Que., hosts drill- indicated reserves of 7.2 million tonnes grading 0.25 oz gold per ton. Teck Corp., which has a 30% interest in Golden Knight Resources, Inco’s partner, is involved in the feasibility review. Inco says the review should take less than two months to complete.

At that time, The Northern Miner expects the partners will announce a production decision. Golden Knight which holds a 40% interest in the project, has soared to new highs on the Toronto Stock Exchange trading over $17. Inco holds a 60% interest in the project. Inco President Donald Phillips notes that all of his company’s gold projects, including Golden Pond, could be in production by 1989. Inco has gold properties in Brazil and the U.S.