QUEBEC — Toronto's North American Palladium declared its Sleeping Giant gold mine near Timmins to be in commercial production as of Jan. 1, 2010. The underground producer and mineral processing plant are located 80 km north of Amos. The mine is expected to produce 50,000 oz of gold in this year.
The Sleeping Giant was originally opened in 1988. Since that time it produced over 1.0 million oz of gold from ore with an average grade of 11.4 g/t Au. North American acquired its 100% interest in Sleeping giant when it merged with Cadiscor Resources in May 2009.
The property contains an estimated proven and probable reserve of 235,300 tonnes at 9.31 g/t Au. There is an additional measured resource of 178,000 tonnes at 8.70 g/t and an indicated resource of 77,000 tonnes at 13.32 g/t. The numbers come from the 43-101 report of October 2008.
North American Platinum spent $7.5 million to put the property back into production. See also www.NAPalladium.com.