Orefinders Resources has completed its closure plan for off-site custom milling of some mineralized stockpiles at its Mirado Gold Project, near Kirkland Lake.
Three stockpiles were left behind on surface at the former producing Mirado Mine, once operated by Gold Shield during the late 1980s.
The stockpiles have a calculated inferred gold resource of 2,939 ounces at 4.41 grams per tonne (g/t) for a total of 20,742 tonnes based on more than 300 samples taken.
The closure plan will be filed with the Ministry of Northern Development and Mines for approval, said Orefinders’ CEO Stephen Stewart in a Sept. 21 statement.
“We view this project as a source of non-dilutive cash flow for the Company which we will use for the ongoing to development of the Mirado Project at an appropriate time."
The company said the stockpiles were sampled for gold and metallurgy and indicate a favourable outcome for custom milling with 93 per cent gold recoveries expected.
Bids have been obtained for the crushing, hauling and milling of the existing 20,742-tonne stockpile left on the site by the previous operators.