one targeted Madsen partner Claude Resources has the permits and the infastructure in place and ready to go.
The Madsen property comprises approximately 10,000 acres (4,000 hectares) located in the Red Lake Mining District of northwestern Ontario. Located on the southwestern part of the Madsen property is the Madsen gold mine and mill.
The Madsen Property at Red Lake, Ontario represents a significant exploration opportunity for Claude Resources. During 2008, 2009 and 2010 Claude demonstrated the potential for discovery of high grade gold deposits and provided and updated National Instrument 43-101 Technical Report on the property.
Located in the prolific gold producing Red Lake area, and only ten kilometres southwest of the town of Red Lake and 20 kilometres from Goldcorp’s high grade Red Lake Mines, the property is accessible by an all-weather road.
The 10,000 acre property contains a 500 ton per day mill, a functioning 4,125 foot timbered shaft and a tailings management facility. All existing infrastructure is fully permitted.
The Madsen Mine has a rich history. From 1938 until the mine’s closure in 1976, gold production exceeded 2.4 million ounces at an average grade of 0.28 oz/t (9.02 g/t). Historic production exceeded 100,000 oz/year and was derived from both the ‘Tuff’ and ‘8 Zone’ Trends.
With these people as a partner we could be mining there next year could we not?