MIRAMAR, Costa Rica With permits in hand and only project financing to arrange, GLENCAIRN GOLD has purchased processing equipment for its Bellavista gold development. The equipment, including a 2,000-tonne/day ball mill, comes from an unnamed mining company and will be paid for with 600,000 Glencairn shares as well as cash. The equipment is to be shipped this summer.
When contacted by CMJ, Glencairn chairman Ian McDonald said the equipment was formerly owned by WHEATON RIVER MINERALS. The gold recovery plant was used at the Golden Bear mine in British Columbia. The ball mill previously saw service at the Mascot mine, but had been sitting in Penticton, B.C., since it was refurbished several years ago.
The Bellavista property was first mined in 1909 and was the site of small-scale mining by local interests for many years. In 1986 it passed into Canadian hands when it was purchased by MINERA RAYROCK. Wheaton River took over the project in 1997, and Glencairn obtained it from Wheaton River in October 2002. A 60,000-oz/year open pit mine and mill are planned at a cost of about US$28 million. "Ore reserves" are estimated at 11.24 million tonnes grading 1.54 g/t Au.
Questions and comments may be directed to info@glencairn.com.
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