SASKATCHEWAN - Toronto-based GLR RESOURCES is considering various options to create a mine out of its Goldfields project including the old Box-Athona mine near Uranium City. The latest NI 43-101 report delivered by AMEC (Saskatoon) estimates resources for both bulk mining and selective mining.
Bulk mining using a cut-off of 0.0 g/t Au could be based on 13.25 million tonnes of measured and indicated resources at 1.44 g/t Au. There would be another inferred resource of 96,000 tonnes at 1.48 g/t Au. Together the figures point toward 618,000 contained ounces.
Resources available for selective mining are dependent on the use of various cut-off grades between 0.0 and 2.5 g/t Au. At 1.5 g/t, the deposit contains measured and indicated resources of 3.13 million tonnes grading 3.35 g/t Au plus inferred resources of 988,000 tonnes grading 3.27 g/t Au or 440,000 oz.
Historical resources at the Box-Athona mine using a 0.0-g/t cut-off grade estimated there are 1.13 million oz of gold left in the ground. The mine was operated from 1939 to 1942 by Cominco and yielded 64,000 oz of gold.
More information is posted at www.GLRResources.com.
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