BRITISH COLUMBIA GOLD CITY INDUSTRIES of Vancouver has received the permit allowing the construction of a 200-tonne/day gravity-flotation mill and tailings facility for its gold project near Greenwood. The company says the Greenwood project would be the first new metal mine in the province since 1996.
Initial feed for the mill will be from a 10,000-tonne underground bulk sample from Gold City's Lexington high-grade gold-copper property, 15 km south of the mill. A 10,000-tonne bulk sample permit application for the company's Golden Crown deposit, located 2 km southeast of the mill, is currently in process. The goal is to bring both properties into full production immediately following processing of the bulk samples. Production for the Greenwood gold project is targeted for the summer of 2005.
Gold City has agreed to sell its assets in British Columbia, including the Greenwood project, to Vancouver's JANTRI RESOURCES, which will issue shares to cover the sale. Jantri will take over all activities related at Greenwood when the transaction is complete. Gold City will have a say in development of the project by virtue of its shareholdings in Jantri.
For further information contact Maria Da Silver at 604-261-4466.
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