Golden Dawn signs letter of intent with the Lichtfield Group to fund and develop its May Mac Min.
M2 EQUITYBITES-September 26, 2011-Golden Dawn signs letter of intent with the Lichtfield Group to fund and develop its May Mac Min(C)2011 M2 COMMUNICATIONS http://www.m2.com
Golden Dawn Minerals Inc (TSX-V:GOM.v) announced today that it has signed a Letter of Intent with Lichtfield del Peru S.A.C. of Lima, Peru, under which Lichtfield may earn a 50% interest in its Boundary Falls property, three kilometres from the town of Greenwood, British Columbia, by funding the exploration and development of the historical May Mac gold-silver mine, including the processing of a 10,000 tonne bulk sample.
The company said that Lichtfield's contribution will be up to USD1.8m, of which USD1.4m will be directed toward refurbishing the historical adit access, underground exploration, surface exploration, permitting and drifting to new mineralized zones.
It is anticipated that this work will commence immediately upon receipt of the necessary permits for the upgrading of existing adits to current standards and bulk sampling. The mine is currently permitted with an adjoining 100 tonnes per day mill and permitted tailings pond.
Mike Dufresne, P.Geol of Apex Geoscience Ltd (APEX), will supervise all surface exploration and the Lichtfield Group will supervise and carry out all underground operations, supply all equipment and skilled labour and deploy their expertise in mining high grade narrow vein underground mines.
The Lichtfield Group is one of the largest underground mining contractors in Peru.
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