Tuesday, 14th December 2004 (3007 views)

Canada's Emgold Mining has announced that has developed a new plan to speed up underground exploration and development at its Idaho-Maryland Gold Mine.

The move follows an extensive review of a report on the site and communication between management and the board of directors.

Emgold is now applying for a Conditional Mine Use permit which will help begin exploration and development underground, with the building of an access ramp and dewatering of the existing mine workings.

The mine was discovered in 1851 and produced gold from 1862 to 1956, yet based on considerable data and using modern computer modelling, Emgold believes the site has the potential to beat production at Newmont's Empire mine nearby.

Situated in the Grass Valley Mine District, similar to the Red Lake District, the site includes large, high-grade gold deposits and high-grade targets.

If efforts are successful, the various technology used could help to make the Idaho-Maryland Gold Mine one of the lowest cost gold producers in the world.

 

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