MEXICO GAMMON LAKE RESOURCES of Dartmouth, Nova Scotia, has arranged debt financing in the amount of US$60 million for development of its Ocampo gold-silver project in Chihuahua. The money is being made available by SCOTIA CAPITAL.
The Ocampo development includes two mines: a 1,500-toonne/day underground mine with an agitated cyanide leach plant and an open pit with an 11,400-toone/day heap leach. Annual production is targeted at 170,000 oz of gold and 6.2 million oz of silver, beginning in the first quarter of 2006.
Photographs and the Ocampo technical report are posted at www.GammonLake.com.