- Spanish Mountain Gold (SPA) is preparing for a program of summer field work at its Spanish Mountain gold project in British Columbia
- Work at the project will be based on a 10,000 tonnes-per-day concept that was outlined in a Preliminary Economic Assessment from late October, 2019
- An initial phase of operations would process an average of one gram per tonne of gold over an 11-year period, targeting a near-surface portion of the mineral deposit
- Filed crews are expected to be mobilised to the project by mid-August, focusing on further delineating the quality and quantity of mineral resources
- Spanish Mountain Gold (SPA) is up 10 per cent and is trading at C$0.22 per share
Spanish Mountain Gold (SPA) is preparing for a program of summer field work at its Spanish Mountain gold project in British Columbia.
Initial work at the project will be focused on engineering assessments ahead of a focused field program, which has been designed to further delineate the mineral resource at the Spanish Mountain project.
This is based on a 10,000 tonnes-per-day concept that was outlined in a Preliminary Economic Assessment (PEA) in late October, 2019. The PEA centres on a proposed initial phase of operations that would process an average of one gram per tonne of gold over an 11-year period.
The initial phase has been planned to exclusively target a near-surface, high-grade portion of the mineral deposit, which is thought to make up roughly 30 per cent of the overall gold resource.
Spanish Mountain Gold is anticipating that field crews and contractors will be moved to an exploration camp near Likely, British Columbia, by mid-August, under necessary COVID-19 safety protocols set out by the province’s health authorities.
Larry Yau, CEO of Spanish Mountain Gold, said the company is well-positioned to tackle a number of ambitious milestones within the next 12 months. This includes the completion of an inaugural Preliminary Feasibility Study, which will in turn include a reserve statement for Phase One of the mineral deposit.
“The recently completed financing has secured us the financial resources as well as the critical endorsement for our project strategy.
“With both the gold price and our share price reaching multi-year highs, I believe we are now well-positioned to continue delivering the value of our Project for our shareholders,” he added.
Spanish Mountain Gold (SPA) is up 10 per cent and is trading at C$0.22 per share at 2:17pm EDT.