Potential indicated for Bannockburn, Micham, Mono report

Initial results from the Bannockburn gold project near Madoc, Ont., suggest there is the potential for a small (200-ton-per-day) underground mining operation, Micham Exploration (VSE) and Mono Gold Mines (ME) report.

Reserves, classified as “modified geological” and calculated mainly from drilling and some underground sampling, are based on a minimum mining width of 6 ft and three cut-off grades:

Cut Uncut Cut-off Reserve grade grade grade tonnage (oz/t) (oz/t) 0.05 248,000 0.19 0.27 0.08 211,000 0.21 0.3 0.1 187,000 0.22 0.33

Exploration to date has consisted of surface drilling, ramping to the 75-ft level in one area, underground drilling and drifting on the 75-ft level. Prior to the current program, about 1,200 ft of strike length had been explored by drilling; the current program has exposed 225 ft of strike length by underground ramping.

The companies say further comprehensive exploration would cost about $4.5 million. Micham and Mono say they intend to seek the necessary funding for the work program, which would include extending the ramp from 75 ft to the 175-ft level.