Printer Friendly

Dickenson's Red Lake Mine 'on target' to achieve four years of increased production.

Dickenson's Red Lake Mine `on target' to achieve four years of increased production

Production at Dickenson Mines Ltd.'s Red Lake Mine is surpassing projections, says an official at the site.

In the company's 1989 annual report, plans were announced to increase 1990 gold production at the facility to 82,000 ounces from 286,000 tons of ore. In 1989 70,200 ounces of gold were produced from 277,000 tons of ore.

"We're right on target," said mine manager Bruce Bried.

If the projection targets are achieved, it will mark the fourth consecutive year production has increased. According to company figures, the amount of ore milled has steadily increased from 242,000 tons in 1987.

Bried noted that the grading of the ore has also been on target.

"Actually, it's been better than expected," he said.

Company officials had projected an average grade of .32 ounces, while the actual grade has averaged .33 ounces per ton.

Dickenson's chairman of the board, Robert McEwen, said the increased activity at the mine will help strengthen the company's potential for growth, especially if gold prices increase during the year.

Despite expectations to the contrary, the increase in production has not resulted in an increase in the number of employees at the mine, according to Bried.

Officials had stated in the annual report that more workers would be needed to make the production increase possible.


The mine site is also performing better than expected in its underground exploration program.

Initial projections in the annual report called for 71,000 feet of diamond drilling and 10,700 feet of mine development in 1990. According to Bried, total development is currently 15 percent ahead of projections.

The amount of diamond drilling has decreased from the 81,500 feet conducted last year, while mine development has increased 600 feet over 1989 figures.

Last year's exploration efforts identified additional reserves of 132,000 tons with an average grade of .30 ounces of gold per ton in an area which is scheduled to go into production by the end of the year.

The program also located a 16,000-ton reserve with a grade of .59 ounces and another reserve estimated at 63,000 tons with a grade of .29 ounces.

PHOTO : Dickenson's Red Lake Mine in Balmerton is expected to produce 82,000 ounces of gold from 286,000 tons of ore this year.
COPYRIGHT 1990 Laurentian Business Publishing, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1990, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Gold Mining Report; Dickenson Mines Ltd.
Publication:Northern Ontario Business
Date:Jul 1, 1990
Previous Article:Shoal, Cameron Lake properties halted by environmental concerns and price of gold.
Next Article:Queenston reports drilling programs on five properties.

Related Articles
Revenue is up, income declines.
Gold exploration active in northwest's Red Lake district.
Gold exploration in Wawa steady, but less intense.
St. Andrew Goldfields prospers by running counter to industry's trend.
Macassa part of Lac Minerals' $15-million exploration program.
Madsen Gold Corp. plans a return after 15-year absence from mining.
Earnings hike.
Placer Dome focusses on rationalizing employment, additional cost reductions for the balance of the year.
Red Lake mine reserves "rich". (Special Report: Mining).
Wolfden spins out gold stakes to focus on Nunavut.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters