Black Fox increase in the mineral reserve grade to 7.5 gt
6-5-2015.Primero Mining Corp. Black Fox Focused on Transition to Underground: Underground development at Black Fox continues to progress on-schedule and the underground mine remains on-track to achieve production rates of 1,000 tonnes per day during the third quarter of 2015. 19% increase in the underground gold mineral reserve grade to 7.5 grams per tonne at its Black Fox mine, located near Timmins, Ontario.
Sandstorm has a gold stream agreement to purchase 8% of the life of mine gold produced from Black Fox and 6.3% of the life of mine gold produced from the Black Fox extension (which includes a portion of the Pike River concessions) for a per ounce cash payment equal to the lesser of US$509 and the then prevailing market price of gold.