A final round of bulk sampling, now under way, is expected to lead to a production decision at the Nugget Pond gold property on Newfoundland’s Baie Verte Peninsula.
Richmont Mines (TSE) and Noveder (ME), which, respectively, own 60% and 40% of the property, are working toward construction of a 400-tonne-per-day mill. The cost of production is projected at US$143 per oz.
Minable reserves are estimated at 390,000 tonnes grading 13.71 grams gold per tonne.
A production decision is expected in January, 1996.
Be the first to comment on "Sampling ongoing at Nugget Pond"