GEODOME RESOURCES <GOEDF> TO PROCEED WITH MINE
Geodome Resources Ltd
said based on a feasibility study of its Sunbeam Mine it will
proceed with contruction and pre-production stripping as
rapidly as possible.
    The company said eight of nine holes drilled on the new ore
zone have an average grade of 0.046 ounces of gold per ton and
2.1 ounces of silver per ton.
    The deposit is 400 to 500 yards from the newly designed
Sunbeam pits, has large tonnage and will be drilled off this
summer, the company said.
    The study said ore reserves including dillution were
3,302,000 tons at 0.77 ounces of gold per ton at a cut off
grade of 0.026 ounces per ton and stripping ratio of 4.24 to
one.
    It said gold production will average 41,000 ounces per year
for the mine life and 99,000 ounces of silver per year.
    It said gold production in the first three years should
average 50,000 ounces per year.
    Operating costs are expected to average 201 dlrs per ounce
of gold for the mine life and 171 dlrs per ounce in the first
three years.
 Reuter
