[caption id="attachment_1003723781" align="aligncenter" width="531"] The McGarry gold mine was active as recently as 2013. (Image: Orefinders Resources)
ONTARIO – Orefinders Resources
of Toronto says it has negotiated an agreement with the Ontario Ministry of Northern Development and Mines resolving issues that impact the company’s plans for the McGarry project, including the McGarry underground mine and Barber-Larder pit.
The agreement paves the way for the company to close the acquisition of the site and proceed with development. The property is located west of the historic Kerr Addison gold mine and east of three projects belonging to Bonterra Resources.
The deal between Orefinders and the province solved the problem of a brownfield tailings facility, allowing Orefinders to acquire it for potential use when the mines are reopened.
Earlier this year, Orefinders offered to purchase the properties from Kerr Mines. The McGarry mine was in production as late as 2013. The 43-101 estimate made in 2009 said there were 123,000 indicated oz. of gold in 447,000 tonnes with an average grade of 7.7 g/t plus 30,000 inferred oz. in 157,000 tonnes grading 5.3 g/t gold. The Barber-Larder pit produced 6,700 oz. of gold from 51,000 tonnes of ore averaging 4.1 g/t gold and processed through the Kerr mill.
More information is available at www.Orefinders.ca.