Friday, 24th August 2007 (1857 views)

It has been predicted that Cresson gold mine will expand in the coming future.

According to the Colorado Springs Gazette, the Cripple Creek and Victor Gold Mining company recently reached a milestone in its production.

Following 13 years of operation, it announced that is has extracted three million ounces of gold from the mine.

"This is not an overnight discovery; this is the result of several years of exploration. We always thought there might be an opportunity but weren't sure until we started studying it closely," Jane Mannon, manager of community affairs at Cresson mine told the newspaper.

The Gazette reports that Cripple Creek and Victor Gold co-owns the mine as a joint venture with Golden Cycle Gold and AngloGold Ashanti.

Production per year at the mine is 250,000 to 300,000 ounces of gold. It also notes that 65,000 to 70,000 tonnes of gold ore is crushed per day.

 

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