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Ridgestone Mining Secures Mill Ahead of Bulk Sample at Rebeico

Mining News - Published on Tue, 28 Jul 2020

Image Source: Ridgestone Mining
Ridgestone Mining Inc announced that it has entered into a toll milling agreement with a nearby mill to process bulk samples from historic dumps of the Alaska vein. Additionally, the Company has also received bids from mining contractors to rehabilitate historical underground workings along the Alaska vein to facilitate underground and bulk sampling.

Highlights

Fixed-price toll milling agreement with nearby (~40km) Real Viejo flotation mill for up to 300 tonnes per day;

Bulk samples planned to process historical surface dump material grading up to 16.85 g/t gold and 2.70% copper;

Rehabilitation of historical underground workings on the Alaska Vein to map and sample zones in the vicinity of drill-hole intervals that assayed 36.1g Au/t and 1.22% Cu over 1.5 meters, and 8.31g Au/t and 2.41% Cu over 3.25 meters in 2018.

Mr. Jonathan George, CEO, commented "Entering into this toll milling agreement for the Real Viejo mill, which is only 40 kilometres from our high-grade Alaska vein, provides an opportunity to capitalize on today's strong gold and copper prices. Using a phased approach, we will look to reprocess the historical dumps and to begin rehabilitation of the historical workings which will provide safe access for extensive underground mapping and sampling."

A toll milling agreement has been established with Exploracíon Y Desarrollo Desierto SA de CV for the nearby Real Viejo mill for up to 300 tonnes per day. The Real Viejo mill is a recently-refurbished flotation mill with crushing and grinding circuits capable of producing a gold-copper-silver concentrate. The agreement outlines a fixed price for up to 300 tonnes per day at the Company's discretion.

Source :

Posted By : Yogender Pancholi on Tue, 28 Jul 2020
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