RE:RE:RE:RE:RE:RE:Wallbridge News today
Abcourt Mines talks preparation work at Sleeping Giant
2020-08-27 13:03 ET - News Release
Mr. Renaud Hinse reports
UPDATE ON THE PREPARATION WORK FOR THE OPENING OF THE SLEEPING GIANT MINE
Abcourt Mines Inc.'s preparation work for the opening of the Sleeping Giant mine is progressing as planned, and the objective of producing some ore at the Sleeping Giant mine at the end of September or the beginning of October is attainable. To date, more than $5-million has been invested in this project and the company was able to do that with the Elder mine's cash flow. The company is very proud to have realized this project without contracting any debt.
Work to be done:
- Shaft No. 1 is used for the ventilation of mine and as an escape way. The old timber in the manway has to be replaced by new timber.
- Shaft No. 2 is used for production and services. The company has to repair and re-enforce the landings in the manway.
- The drifts that connect the two shafts have to be rehabilitated as needed.
Work history:
- The rehabilitation of the mill and tailings pond was started immediately after the purchase of the property in 2016 and is continuing. The mine now has to be rehabilitated for its reopening.
- Repair work in the mine was started in the second quarter of the annual period ended June 30, 2020. It consisted of having the needed installations and the equipment for the work to be done. The repair of landings in shafts No. 1 and No. 2 followed. This work was stopped in December, 2019, but it was restarted on April 16, 2020, with the reopening of the mine after the closure due to COVID-19. For this work, the company made sure that the timber used (Douglas fir) would last a long time and allow the operation to continue for many years.
- In a press released dated June 5, 2020, the company announced that work to reopen the Sleeping Giant mine had started.
Progress made on mine rehabilitation:
- In shaft No. 1, repairs were done from surface to level 100 and the additional timber needed to repair the shaft to level 235 was recently received. This will enable the company to complete the repair work in shaft No. 1.
- In shaft No. 2, all repairs have been done. The re-enforcing of landings and the installation of guards remain to be done.
- The drifts that connect shaft No. 1 with shaft No. 2 were upgraded on levels 55, 100, 145 and 190.
- After the repair of shaft No. 1 to level 235 and after the upgrading of drifts on levels 235 and 295, the company will start to produce some ore, probably at the end of September or beginning of October, 2020.
Strategy and outlook
Currently, the corporation is focused on gold. At the Elder mine, the company's objective is to increase production to 12,500 of gold mineralization tonnes per month.
The company wishes to use the full capacity of the Sleeping Giant mill by opening the Sleeping Giant mine. This should reduce the operating cost per tonne treated.
For the long term, in the gold sector, the corporation is planning a $2-million drilling program at the Sleeping Giant gold property, where substantial unexplored gold mineralization is found.