Recent underground development by Cathedral Gold (TSE) at its 52% owned Sterling mine increased tonnage such that the current reserve is the largest in the mine’s history.
Located near Beatty, Nev., the Sterling mine has been in production using heap leach methods since 1980. The mine is expected to recover 12,400 oz. gold this year, and geological reserves are viewed as sufficient for an additional four years of production at current rates.
After a recent program of underground development into new parts of the deposit, preliminary reserves were increased to 765,000 tons grading 0.17 oz. gold per ton. This represents a significant increase from reserves of 498,000 tons grading 0.20 oz. gold at the beginning of 1991.
The updated reserve includes 403,000 tons grading 0.24 oz. gold in the proven and probable categories, and 362,000 tons grading 0.109 oz. gold in the possible category.
Cathedral recently started a 9,000-ft. surface drill program to further define the possible reserves and test new targets in the mine area.
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