Wednesday, 24th September 2008 (439 views)

Cadiscor Resources has revealed the results of a new report concerning the Sleeping Giant mine, which it is due to take possession of in October.

The firm conducted a 19,000-metre exploration programme at the site, located in Quebec, in preparation for taking over from its current owner IAMGOLD.

Recently completed analysis has been compiled and an estimate of reserves produced.

It states that the mine has measured resources of 177,900 tonnes of gold at 8.7 g/t and indicated resources of 311,900 at 10.3 g/t.

Proven reserves stand at 135,000 tonnes at 9.3 g/t and probable reserves at 100,000 tonnes at 9.4 g/t.

Spokesman Michel Bouchard commented: "We are very pleased to say that
we have exceeded our targets as we now have more than 33 potential months of
reserves and resources."

He added that the exploration potential for the project is "very strong".

Meanwhile, it has been announced that a proposed joint venture between Aurizon Mines and Radisson Mining Resources on a project in Quebec will not go ahead.

 

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