The joint venture partners exploring the old Jerome Gold mine property report surface and underground drilling programs, together with drifting, significantly added to the reserve estimate.
The most recent program included drifting on the 500-ft level along the Main and South zones. The South zone had not previously been explored underground; 237 ft of drifting on this zone averaged 0.278 oz across an average width of 5.8 ft.
The property, a former producer, is held under option from E.B. Eddy Forest Products. Muscocho Explorations (TSE) is the operator. The other partners are Jerome Gold Mines (ASE), Chesbar Resources (TSE) and McNellen Resources (TSE).
The companies report underground exploration has ceased, the surface plant placed on a care and maintenance basis and the shaft water pumps shut off, pending a decision on future plans.
One possibility being considered is a consolidation of interests in the area.
]]>
Be the first to comment on "Muscocho, partners boost Jerome reserves"