A geological reserve of 100,000 tons grading 0.25 oz gold per ton has been calculated for Newfields Minerals’ Teck-Hughes property. Located near Kirkland Lake, Ont., the Teck-Hughes property is believed to have the potential for hosting two million tons of a similar grade, Newfields says.
In order to evaluate the property in detail, the company is considering an underground exploration effort. This would require reopening the Kirkland Minerals shaft No 2, controlled by Teck Corp. The shaft would be dewatered to the 2,800-ft level. The exploration target area is located 950 ft north of the No 2 shaft on the 1,900-ft level.
Newfields is also negotiating a settlement agreement which will allow it to terminate a deal to acquire 25% of Chelsea Resources.
Be the first to comment on "Newfields reserves for Teck-Hughes"