QUEBEC Montreal-based CADISCOR RESOURCES has received 43-101-compliant report prepared by GENIVAR based on 19,000 metres of underground drilling at IAMGOLD’s Sleeping Giant gold mine 80 km north of Amos. Cadiscor struck an option deal with IamGold last year, and is planning to take over 100% ownership of the Sleeping Giant mine at the end of October 2008.
The Genivar report puts measured and indicated resources at 489,800 tonnes grading 9.7 g/t Au. Included in the resource numbers are proven and probable reserves totalling 235,300 tonnes at 9.3 g/t Au. Reserves as estimated are sufficient for an additional 16 months of operation at a production rate of 52,000 oz of gold annually.
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