Cliff to produce in ’88

Construction is on schedule at the Green Hill mine project operated by partners Cliff Resources and Canaustra Gold Exploration. Located in Nevada, the Green Hill project will process a placer gold deposit using a 10-cu-yd dragline for selective open pit mining.

The project, scheduled to enter production in March, 1988, will produce 20,000 oz gold per year at a cost of $153(US) per oz, Cliff says. Funding for the project is coming from Canaustra, which is earning its 50% interest by paying the capital costs of $4.5 million. Cliff was also paid $1.2 million.

Cliff, which was listed on the Toronto Stock Exchange this year, is also reviewing several gold exploration proposals concerning properties in the southwest U.S.