The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Thursday, 4th December 2008 (1225 views)

Western Sierra Mining has announced that it has started production at the Gold Basin Placer mine.

With more than 500,000 ounces of total gold reserves, valued at more than $4 million (£2.74 million), the mine has anticipated margins of around 50 per cent.

According to Western Sierra, initial yearly cashflow of Phase I production is targeted at $2 million and the company hopes to increase this level to $4 million in less than 12 months.

Michael Chaffee, Western Sierra Mining president and chief executive, stated: "Initial production results correspond well to historical data and we will release results as they become available."

Gold Basin mine is one of three properties that Western Sierra Mining plans to operate simultaneously during Phase I of its gold mining operations and the Gold Basin claims are located on 332 acres in central Arizona, within the Hassayampa River Basin.

The company is a publicly traded precious metals and minerals mining business with more than 100 years of experience in gold mining and exploration.

 

« Back to Gold News stories