“We acquired the property at the beginning of this year—we also have very substantial assets in Quebec—and we’ve completed some engineering studies on it and the assessment and feasability study, all with the objective of bringing the mine back into production. The infrastructure of the mine is all in place. In association with that we’re doing exploration around the property. These are additional results from an area we were drilling to the east of the principal mine, and we feel that we’ve identified an additional area of mineralization which is an extention of the mine. We’ll be testing that down plunge. The old bodies at the mine can be very substantial lenses, and this appears to be potentially the top of a third lens. Which is very significant.
“Our objective is to continue exploration—we have 4 diamond drills on the property right now—as we believe there’s a lot of untested potential there. We are also looking to advance our feasibility study and get the financing completed for the Snow Lake Mine so we can bring it back into production, with a production rate of about 80,000 ounces a year. That will take about 18 months after we start. I would hope that we’ve started that work in the next 6 to 12 months.”
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