Post by
Schmid on Aug 19, 2011 7:47pm
Belleterre Mine Property
I looked at some maps on Conway's website. Couldn't get them to cut and paste, but one of the lakes you referred to was probably part of the mine property. I did't realize how big this property is with veins all over the place.
Conway's older property to the west, Conway Paquain also has small lakes on it.
This mine was shut-down in the late 60's when the price of Gold collapsed to a ridiculously low value.
IMO, this property has hardly be explored. They got 95% of the production just by following ONE vein.
The guy in the truck you saw was probably taking Magnetometer readings to give them an idea, with the grab samples, of where to do their diamond drilling. Air borne surveys are nice, but cost an awful lot more to do.
I like the grades they have found so far. With careful analysis, so they follow the veins carefully, a mill should be very profitable. Conway Paquain sounds like it will be strip-minable, as they got $150,000 out of the last bulk sample they reported some time back. I think there might be two more to report, one already processed and another just about to be processed.
Canada has lots of these old mines, that with today's price of Gold are profitable again.
I didn't count on them having to create two holding ponds and line them. Once de-watering commences, it was the opinion of a few posters, that it shouldn't take long. Once de-watered they can continue diamond drilling from inside the mine through the winter, if they keep the road plowed. The mine goes down over 700 ft. and people think the gold veins should make for some nice photos.
GLTA