Prodigy Gold raised the estimated resources of its Magino gold project

Prodigy Gold Inc. raised the estimated resources of its open pit Magino gold project in northern Ontario to more than 2.6 million ounces.

The Vancouver-based company said Thursday that Magino, which is northeast of Wawa, Ontario, holds indicated resources of 2,176,000 ounces of gold and inferred resources of 1,721,000 ounces of gold.

Magino’s “life of mine gold production is projected at 2,614,000 ounces,” an increase of 1.1 million ounces from the previous estimate.

Prodigy sees an average yearly production of 249,300 ounces over an 11 year mine period, and total mineable resources are estimated at 74,234,000 metric tons grading 1.15 grams per metric ton.

The company plans a full feasibility study for the proposed open pit mining project to be completed next year. –  IBTimes

Tags: Gold, Gold mining, Gold mining companies, Gold mining industry, Magino gold project, Prodigy Gold

Posted by admin on Dec 23 2011. Filed under Gold mining. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry