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Tuesday, 13th June 2006 (4094 views)

Gold-Ore Resources has begun exploration work at a site in Sweden alongside ongoing gold production.

The US firm is to look at restarting full-scale gold production in the Bjorkdal mine and has a feasibility study underway.

Annual production is currently in the region of 20,000 ounces from stockpiles, but Gold-Ore Resources hopes this can be increased as much as fivefold on full production.

A statement from the company says: "Exploration work completed clearly demonstrates that the mineralisation at Bjorkdal extends north from the open pit and remains open to further expansion.

"Our objective in this current program is to complete a feasibility study to evaluate gold production at the rate of 75,000 to 100,000 ounces per annum at Bjorkdal."

The company is planning to sell the gold produced in April and May at spot prices to offset exploration costs.

 

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