IDAHO TWIN MINING CORP. of Toronto has announced that it is proceeding with a private placement financing to raise up to $7 million. The money will be used to fund a feasibility study of the Atlanta gold project 60 km northeast of the capital, Boise. Twin began rehabilitating the former producer in the fall of 2002 and hopes to make a positive production decision this year. The company has a 100% interest in the property through its wholly-owned subsidiary ATLANTA GOLD CORP.
The Atlanta mine was placed on care and maintenance in 1999, leaving as much as 1 million oz of recoverable gold behind. Twin Mining hopes to produce 100,000 oz of gold annually for 10 years.
(I enjoyed perusing all the details about the project at www.TwinMining.com because I grew up in Idaho and went to university near Boise. There are lots of maps and photos to look at including the circa 1864 headframe.M.Scales)
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