MINING NEWS: Nixon Fork mine receives permits - February 26, 2006

Providing coverage of Alaska and Northwest Canada's mineral industryFebruary 2006

Vol. 11, No. 9

Week of February 26, 2006

MINING NEWS: Nixon Fork mine receives permits

Sarah Hurst

Permits from the State of Alaska and the U.S. Bureau of Land Management to re-open Nixon Fork gold mine near McGrath have been issued to Ontario-based St. Andrew Goldfields. The permits become effective upon the posting of a reclamation surety bond by the company. St. Andrew plans to upgrade and refurbish the existing gold mill, including the installation of a cyanide leach circuit. The company plans to produce 40,000 to 50,000 ounces of gold a year and 1.2 million pounds of copper.

Engineering is expected to be completed in April and construction will begin in May, according to a release Feb. 13. Processing of underground ore would start in the early fall. An underground winter diamond drilling program is also under way to delineate and confirm additional ore zones.

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