Estimated Grade Of Gold Deposit Sees Increase

Wednesday, July 14, 2010 at 13:42

A Saskatchewan mining company is raising expectations for a new gold mine north of La Ronge.

Golden Band Resources has officially upgraded the proven-probable reserve of the Bingo gold mine.

Vice-president Gary Hayward says they initially pegged the mine’s deposit at just over 9 g/tonne of rock — but says that figure now stands at 22 g/tonne.

Hayward says it has considerably changed the amount of gold they thought they had stockpiled to about 4,000 oz.

The company is hoping to have clearance to begin production by the end of the year.