News

Moss Lake Gold Mines files PEA for its Moss Lake gold deposit, PFS update for Excelsior Mining’s North Star copper deposit, work restarts at Golden Minerals’ Velardena, precious metals operations in Mexico, Canadian Zinc agree to acquire Messina Minerals and much, much more

Posted on 20 Sep 2013

The latest issue of International Mining Project News, out tomorrow, has reports on 31 prefeasibility studies, nine feasibility studies, and 23 projects in development,  one new mine that has gone into production, six existing operations that are expanding and one merger and acquisition announcement, and many new appointments to new positions. The report covers 29 gold projects, 21 copper projects, 7 silver projects, five iron ore and zinc, four uranium, coal, and nickel, three potash, lead, rare earth, two chromium and one bauxite, graphite, tungsten, platinum, manganese, tin and limonite. This fortnightly project watch is a great way of keeping up to date with your peers – other mining companies, other consultants or other engineering companies. These issues build into a global mine project overview. If you are a supplier – it is full of potential sales leads.

Moss Lake Gold Mines has filed its independent 43-101 PEA for its Moss Lake gold deposit,  a low-grade gold deposit in the Shebandowan area, 100 km west of Thunder Bay, Ontario. The report indicated that the open pit mining and CIL processing would be 40,000 t/d and would have aa life-of-mine stripping ratio of 2.5:1 and a four year permitting/pre-production period. The minelife would be ten years, averaging 244,000 oz/y, with years one to five average 296,000 oz/y and years six to ten averaging 192,000 oz/y.

There has been a PFS update for Excelsior Mining’s North Star deposit as well as all the results from the most recent metallurgical test program, which is part of Excelsior’s Gunnison copper project, located in southeastern Arizona. The Gunnison copper project currently has a total Measured and Indicated mineral resource of 498 Mt of oxide copper at 0.32% and an Inferred mineral resource of 156 M at 0.27%.  This oxide mineral resource has the potential to be mined using in-situ recovery methods. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

Golden Minerals, a precious metals mining company with primary assets in Mexico and Argentina, reports continued progress with its work at the Velardena operations in Durango State, Mexico. The company previously announced it suspended operations at the Velardena mine on June 19, 2013 due to depressed Ag and Au prices, and that the suspension was enacted to best conserve the asset until operating plans and metals prices indicate sustainable and profitable operations. The Velardeña mining district is located within the municipality of Cuencamé, in the northeast quadrant of the State of Durango, Mexico. The property is situated approximately 95 km southwest of the city of Torreón in the State of Coahuila and 140 km northeast of the city of Durango, capital of the State of Durango.

Canadian Zinc and Messina Minerals have announced that they have entered into a binding agreement whereby Canadian Zinc will acquire all of the outstanding shares of Messina in exchange for common shares of Canadian Zinc, and will also purchase the private placement of Messina shares announced August 30, 2013.