Plan for the Black Fox Complex in Matheson, ON Excerpts from today's PR - + Look at SAS's recent PPS.
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Black Fox Complex Plan
- The Company is currently filling the 2,200 TPD Black Fox mill with ore from the Black Fox open-pit and underground operations.
- During the third quarter of 2015 the Company will deplete the current open-pit and production from the underground mine will increase to approximately 1,000 TPD.
- The Company will then supplement underground production with the Black Fox stockpile, currently estimated to be 1.0 million tonnes of 1.1 g/t gold, which is capable of sustaining the mill until late 2017.
- As a result of positive exploration results from the central zone at Black Fox, the Company is now planning to accelerate the ramp down to the 600 metre level during 2015.
- The Company expects to complete an updated internal resource estimate and announce any associated capital requirements for this ramp by the third quarter of 2015.
- The Company has begun an internal scoping study designed to assess strategies to optimize its Timmins assets.
- The Black Fox Complex scoping study will assess:
- The timing and economic returns of developing an open-pit at Grey Fox;
- The timing and economic returns of developing an underground operation at Grey Fox;
- The cost of installing a shaft to access mineralization below 700 metres below surface at Black Fox.
Given the exploration success at Black Fox and Grey Fox, the Company is confident that alternate economic ore sources to complement the Black Fox underground operation will be available before the end of 2017.