Printer Friendly

Inter-Rock Gold Inc.'s Daisy Mine Pours First Gold.

TORONTO--(BUSINESS WIRE)--Dec. 18, 1996--Inter-Rock Gold Inc. (TSE:IRO) today announced that the first gold pour from ore mined at the company's Daisy Mine was conducted this week, a development that marked the end of construction at the property located near Beatty, in southwestern Nevada.

"It's very appropriate that the first gold pour at Daisy came before year end," said David Crombie, President and Chief Executive Officer, Inter-Rock Gold Inc. "The event is symbolic of a project that has consistently been on budget and ahead of schedule."

The 439 ounces of gold were poured at Rayrock Yellowknife Resources' (TSE:RAY) Marigold mill. Rayrock owns 35% of the Daisy project and is the operator of the mine. The Marigold mill processes activated carbon "loaded" with gold leached from oxide ore stacked on Daisy's leach pads.

Approximately 70,000 tons of oxide ore are currently stacked on the newly completed leach pads. In 1997, a monthly average of 160,000 tons will be stacked; during the planned six-year mine life, approximately 2.0 million tons of ore per year will be stacked and leached.

Initial leaching results indicate that Daisy's oxide ore will leach relatively quickly, in a 10 to 15 day period.

Mining Plan on Target; Drilling Program Underway

The leach pads are being stacked predominantly with ore mined from Daisy's Secret Pass and West Zone pits; the ore grade, thus far, is consistent with the mine plan. An extensive drilling program begun in November in a number of target areas continues, with assay results expected to be available during the first quarter of 1997. The exploration program is being conducted by Cordex Exploration, a wholly owned subsidiary of Rayrock.

A minor amount of facilities installation, including the completion of a second water well and piping work around the holding ponds, remains to be completed. Work is well under way on these items.

CONTACT: Inter-Rock Gold Inc.

Martti Kangas, 416/489-0022 ext. 227
COPYRIGHT 1996 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Dec 18, 1996
Previous Article:Ascentex Finalizes Financing & Other Arrangements.
Next Article:Two Iwerks TurboRide attractions open for holidays.

Related Articles
Mountain of gold: will mining this mineral destroy Yellowstone, the 'crown jewel' of the national parks?
Loosening the Golden Handcuffs.
Production up.
Tarnishing the earth: gold mining's dirty secret. (Focus).
Mining revival spells prosperity for region: area witnesses resurgence in development and exploration. (Special Report: Timiskaming).
All that glitters ... gold mining leaves a toxic trail.
Daisy The Cripple Creek Donkey.
All that glitters: the demand for gold is soaring. But some of the methods used to mine gold today take a heavy toll on the environment.
Island gold digger's pour first bar.
All that glitters: discover how rocks buried below the ground turn into the sparkling gold that coats shiny awards.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters