QUEBEC – Abcourt Mines of Mont-St-Hilaire, QC, has received a provincial certificate of authorization that allows it to proceed with the development of the Elder gold mine 10 km northwest of Rouyn-Noranda. The company plans to excavate new drifts, rehabilitate some of the old ones and prepare stopes with the objective of producing 25,000 oz of gold annually.
Abcourt has also received permits allowing it to store explosives underground.
Abcourt president and CEO Renaud Hinse said, "These permits are important milestones and will enable Abcourt to reach commercial production at the Elder mine at the end of calendar 2013."
The most recent estimate for the Elder project puts measured and indicated resources at 1.36 million tonnes grading 6.60 g/t Au and containing 289,000 oz. The inferred category totals 638,000 tonnes at 5.70 g/t and containing 117,000 oz of gold.
Maps and updated information about the Elder property are available at Abcourt.com.