BRITISH COLUMBIA – The Mines Act Permit for the Yellow Giant gold project on Banks Island has been issued to Banks Island Gold of Vancouver. The British Columbia Ministry of Energy and Mines approved the mine plan and reclamation program. The project is permitted for an underground mine at the Tel zone and a 200-t/d grinding-flotation plant.
The company is in the process of taking a bulk sample from the Bob zone. Approximately 1,600 tonnes of material has been processed, and another 600 tonnes of broken material remains underground.
Banks Island reported its first cash flow from the Yellow Giant project on Feb. 11, 2014. The company received a provisional payment of $615,000 from its first shipment of gold concentrate.
Please visit BanksIslandGold.com for more information.