Amador County – Sutter Gold Mining, Inc. (SGM) continues with the preliminary steps necessary to convert its Sutter Creek tourist facility back into a working gold mine known as the Lincoln Project. On Tuesday, the company announced it “is updating the resource estimate and project economics for the Lincoln-Comet deposit to support a production decision and raise financing for construction and development of the remaining facilities and improvements necessary to bring the project into production.” This current stage of development involves a preliminary economic assessment which includes a “3D geologic model” that will detail the methods in which the company plans to mine portions of the deposit. “The project benefits from the good metallurgy of the Mother Lode, including historic district gold recoveries of +95 percent,” said the company in a release. SGM said it is “utilizing engineering consultants to supplement its experienced management and staff to design the processing facilities, tailings handling and backfilling to create a state-of-the-art, environmentally sound mining project.” This area of development is expected to be completed by the end of the year. Other remaining preliminary steps include “planning a final round of materials testing of tailings products to determine material characteristics necessary for final construction engineering” and the development of various equipments used in the mining process. Project permitting is also necessary, and the company has obtained the five major and over 30 lesser or minor state and federal permits necessary for the project components constructed to date. SGM filed an updated Hazardous Materials Business Plan with Amador County in January 2010 and “completed construction-level designs for two critical mine waste disposal units,” and is currently completing biological and cultural studies “to obtain permits associated with potential impacts to less than one acre of wetlands.” The company estimates the permitting process will be completed no later than the beginning of next year. The release said the project “has a smaller and more environmentally favorable footprint than that already allowed under the project's existing Conditional Use Permit ("CUP") that includes a 1,000 ton per day mine and mill with cyanide circuit.” Among other activities, SGM opened an office in May in downtown Sutter Creek next to the Sutter Creek Palace to provide a working area for its expanding mine staff. SGM controls over three miles of Mother Lode property, 90 percent of which has yet to be explored. The current resource estimate for the Sutter Gold Project indicates that a collective 700,000 ounces of gold could possibly be extracted from this area. Most of the potential gold extraction exists along the Melones Fault in the eastern portion of SGM’s property and mineral holdings. Story by Alex Lane This email address is being protected from spambots. You need JavaScript enabled to view it.
Wednesday, 11 August 2010 06:20
SGM Moves Closer to Opening Working Gold Mine
Amador County – Sutter Gold Mining, Inc. (SGM) continues with the preliminary steps necessary to convert its Sutter Creek tourist facility back into a working gold mine known as the Lincoln Project. On Tuesday, the company announced it “is updating the resource estimate and project economics for the Lincoln-Comet deposit to support a production decision and raise financing for construction and development of the remaining facilities and improvements necessary to bring the project into production.” This current stage of development involves a preliminary economic assessment which includes a “3D geologic model” that will detail the methods in which the company plans to mine portions of the deposit. “The project benefits from the good metallurgy of the Mother Lode, including historic district gold recoveries of +95 percent,” said the company in a release. SGM said it is “utilizing engineering consultants to supplement its experienced management and staff to design the processing facilities, tailings handling and backfilling to create a state-of-the-art, environmentally sound mining project.” This area of development is expected to be completed by the end of the year. Other remaining preliminary steps include “planning a final round of materials testing of tailings products to determine material characteristics necessary for final construction engineering” and the development of various equipments used in the mining process. Project permitting is also necessary, and the company has obtained the five major and over 30 lesser or minor state and federal permits necessary for the project components constructed to date. SGM filed an updated Hazardous Materials Business Plan with Amador County in January 2010 and “completed construction-level designs for two critical mine waste disposal units,” and is currently completing biological and cultural studies “to obtain permits associated with potential impacts to less than one acre of wetlands.” The company estimates the permitting process will be completed no later than the beginning of next year. The release said the project “has a smaller and more environmentally favorable footprint than that already allowed under the project's existing Conditional Use Permit ("CUP") that includes a 1,000 ton per day mine and mill with cyanide circuit.” Among other activities, SGM opened an office in May in downtown Sutter Creek next to the Sutter Creek Palace to provide a working area for its expanding mine staff. SGM controls over three miles of Mother Lode property, 90 percent of which has yet to be explored. The current resource estimate for the Sutter Gold Project indicates that a collective 700,000 ounces of gold could possibly be extracted from this area. Most of the potential gold extraction exists along the Melones Fault in the eastern portion of SGM’s property and mineral holdings. Story by Alex Lane This email address is being protected from spambots. You need JavaScript enabled to view it.
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