MacLellan production up

For the year, Lynngold realized a profit of $501,000 or 4 cents per share on revenue of $30 million. At the beginning of the year, reserves on the MacLellan mine property totalled 2.9 million tons grading 0.19 oz gold per ton. This represents an addition of more than 450,000 tons over reserves of 2.48 million tons at the beginning of 1988.

At the Burnt Timber deposit, seven miles southeast of the MacLellan mine, metallurgical testing and a feasibility study are in progress. Initial results show that good gold recoveries are attainable. A preliminary engineering study will determine stripping ratios for an open pit mining operation.

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