Claimstaker Resources Announces Blackdome Gold Mine Positive Feasibility Study Completed.VANCOUVER, B.C.--(BUSINESS WIRE)--Sept. 8, 1997--Claimstaker Resources (VSE See DOS/VSE. VSE - Virtual Storage Extended CLN CLN Clean CLN Community Learning Network CLN Colon CLN Celsion Corporation CLN Class Library for Numbers CLN Credit Linked Note CLN Comitato di Liberazione Nazionale (Committee of National Liberation) CLN Corn Lethal Necrosis ) The management of Claimstaker Resources Ltd. (VSE symbol: CLN) are pleased to announce that they have completed a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. on the re-opening of the Blackdome Gold Mine. The study has indicated that there is a readily mineable reserve of 159,000 tonnes at an average recovered grade of 0.412 ounces per ton gold. Furthermore, as the project is fully permitted, it should take less than ninety days to finish the necessary rehabilitation rehabilitation: see physical therapy. of existing facilities, construct the required camp infrastructure, and complete the reactivation reactivation to become active after a period of quiescence or, as in bacterial and viral infections, latency. cross reactivation of the permits. The current mining plan will ensure the recovery of about 65,000 ounces of gold over the next three years with the following financial results: (Canadian $ -Assuming an average gold price of $US 335) -0-
Total Per Tonne Per Ounce Gold
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Operating Costs $ 19,030,163 $ 119.83 $ 290.85
Operating Profit $ 11,115,543 $ 69.99 $ 169.89
Total Preproduction
Capital Costs $ 2,289,977 $ 14.42 $ 35.00
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Although the operation is clearly viable and profitable based on the current ore reserve, the company's management is confident that an ongoing exploration and development program will substantially add to the ore reserves and extend the mine life. The company is investigating various ways of raising the necessary capital to place the Blackdome Gold Mine in production at the earliest possible date. On behalf of the Board of Directors, R. Somerville, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. NOTE: Location map available from the Company at the phone number listed below. -0- NOTE TO EDITORS: The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has neither approved nor disapproved of the information contained herein. CONTACT: Claimstaker Resources Ltd. Mr. Paul Wilkman, 888/236-5200 http://www.infodine.com/cln |
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