Friday, 24th September 2004 (3180 views)

Mirabel Resources has announced it has begun its gold extraction process at its 'Denain' and 'Lac Rose' sites.

The junior mining exploration company will use thermal fragmentation to extract the gold and believes it should obtain 2000 ounces of the precious metal by the end of this year.

According to the firm the start of the thermal fragmentation is a key event for Mirabel, as it will allow the mining industry to evaluate the technology and view its performance.

Mirabel has requested a loan of $500,000 in order to conduct the operations, which will have to be paid in 12 months.

Any gold extracted will be processed in the Abitibi region and proceeds from the sale will help towards repaying the loan.

The firm hopes to carry out a number of similar projects next year and its main objective is to bring into production mainly narrow vein gold deposits.

 

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