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Thursday, 11th December 2008 (1339 views)

Great Basin Gold has announced it has signed an agreement with Metallic Ventures Gold to purchase the Esmeralda processing plant in Nevada.

The $2 million (£1.3 million) deal, inclusive of the Esmeralda mill, mine and infrastructure, follows an extensive evaluation process by Great Basin Gold.

Esmeralda is located around 290 miles from Great Basin Gold's Hollister project and transport costs to the mill are expected to be $55 per tonne.

Operational until 2004, the Esmeralda mill was placed on care and maintenance and includes a wide range of facilities to process up to 350 tonnes per day

Based in Vancouver, British Columbia, Great Basin Gold forecasts that re-commissioning and reconfiguring of the mill will take at least 120 days and further upgrades will be evaluated and implemented during this phase at an estimated cost of approximately $8 million.

The mining company recently announced that it will employ a narrow stoping mechanised mining method at its Burnstone project from start of production next year on a 'test basis'.

 

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