New management at City Resources (TSE) has decided that a previous feasibility study of the Cinola gold project is worth a second look.
To that end, Chairman Ray Soper and President Robin Slaughter have assembled a group of exploration, metallurgical and mining experts. Soper and Slaughter themselves are mining engineers previously employed by Australian-based MIM Holdings.
Situated on the Queen Charlotte Islands, the project consists of 1,750 acres. City will investigate the potential for finding higher-grade reserves at depth, as well as examine metallurgical approaches and the potential for employing innovative mineral treatment.
Any development program will depend on environmental safety and on co-operation of the Haida and other locals.
On March 18, shareholders of City will be asked to approve a plan to convert debt to equity.
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