The Trenton Canyon gold project of Santa Fe Pacific Gold (TSE) will undergo development.
Situated 11 miles south of the company’s Lone Tree gold mine in northwestern Nevada, Trenton Canyon has yet to receive an environmental impact statement and other permits, a process which is expected to last until January, 1997.
Proven and probable oxide reserves, found within three deposits, are estimated to total 14.6 million tons grading 0.035 oz. gold per ton.
Construction of leach pads and a carbon-in-leach plant will begin in September. The gold-bearing carbon will be processed at the Lone Tree operation.
Gold production for 1996 is projected at 15,000-20,000 oz. and, once under way, full production should range from 50,000 to 80,000 oz. Recovery rates are expected to reach 70-80%.
Cash costs over the 7-year mine life are estimated to total US$210-220 per oz., while the capital cost is projected at US$40 million.
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