ALASKA It's a positive feasibility study and green light for the Pogo gold development 90 miles southeast of Fairbanks. Partners TECK COMINCO of Vancouver, SUMITOMO METAL MINING, and SUMITOMO CORP (both of Tokyo) are making a US$280-million commitment to put a 2,500-ton/day mine and mill into production by March 2006. The project permits are issued and an administrative appeal of the water discharge permit has been withdrawn.
The construction camp is in place and site preparation has begun. Approximately 600 loads of material and supplies were mobilized to the site over a winter road in February and March. A 49-mile-long all-weather road will be completed by September 2004.
The Pogo underground mine has probable reserves of 7.7 million tonnes grading 0.48 opt Au. There are also 800,000 tons of indicated resources at 0.26 opt and 1.4 million tons of inferred resources at 0.49 opt. Teck Cominco says the mine will produce 350,000 to 500,000 oz of gold annually for 10 years.
More news about the Pogo project is available at www.TeckCominco.com.