GOLD: Kaminak commits $29M to advance Coffee project

YUKON – Kaminak Gold Corp. of Vancouver has budgeted $29.0 million for work at its Coffee gold project 130 km south of Dawson City. The program includes environmental baseline studies, permitting, and advanced exploration. The total Coffee budget consists of $14.0 million for permitting, $6.2 million for engineering and pre-development work, $3.7 million for corporate expenses, and $5.1 million for phase one exploration. Kaminak announced a positive feasibility study in January this year. The Coffee project will be an open pit heap leach costing $317 million. Payback is two years with production at 184,000 oz of gold annually over a 10-year mine life. Learn more about the Coffee gold project at www.Kaminak.com.