Mountain Boy advances Silver Coin to feasibility sMountain Boy advances Silver Coin to feasibility study
2009-10-09 12:39 ET - News Release
Mr. Ed Kruchkowski reports
MOUNTAIN BOY MINERALS SILVER COIN UPDATE
Mountain Boy Minerals Ltd. has a 30-per-cent interest in the Silver Coin project with Pinnacle Mines having an option to earn a further 10-per-cent interest by spending $4-million in exploration. Once Mountain Boy is reduced to 20 per cent, it is carried for future expenditures. Silver Coin is one of the most important gold-bearing projects in the Stewart area, and is situated five kilometres north of the past-producing Silbak-Premier gold deposit. Silbak-Premier is hosted in a similar geological environment to Silver Coin, produced two million ounces of gold and 43 million ounces of silver over its mine life, and is the subject of renewed exploration. Currently work is directed to taking Silver Coin closer to a full feasibility study. The most significant activities include: geologic modelling and interpretations; 3-D modelling of the ore body, along with potential open-pit morphologies; preliminary engineering studies, including pit configuration, infrastructure, tailings impoundment and waste rock management; preliminary costing of the project; power and water requirements; baseline environmental studies; and metallurgical testwork.