Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Bralorne Gold Mines Ltd. (the “Company”) is pleased to announce the first successful milling results for its Bralorne mine operation located near Gold Bridge, British Columbia.
Milling operations began on a test basis in early April with the processing of low grade material from the stockpile. The mill was operated nearly continuously during May, with gravity and flotation concentrates being produced. A total of 2252.57 tons (dry) were milled in May, with an average feed grade of 0.312oz/ton and a recovery of 93.52% Mill availability for the month was 84.2% Refined gravity concentrate was accumulated and the first gold bar (dore) was poured on May 27th which marked the official opening of the new Bralorne mine operation. Assays indicate the dore bar contained 254 ounces of gold and 59 ounces of silver.
EXPLORATION
Underground exploration development is progressing with extension of the BK decline from surface. The decline will be driven approximately 300 meters to access the upper BK-3 mineralized zone, followed by drifting along the zone to establish the grade. Sublevel and raise development are planned if positive results are received.
The diamond drilling program for 2011 has commenced with underground drilling to test the upward extent of the BK-800 zone and the lower part of the BK-3 zone. Surface drilling is also planned to test for extensions to the upper BK-3 zone, and to explore for other mineralized shoots and parallel veins on the BK structure. A total of 3300 meters in underground drilling and 4600 meters of surface drilling is planned. The program may be extended if positive results are obtained.
Dr. Matt Ball, P.Geo., Chief Operating Officer for the Company, is the qualified person who prepared the technical information contained in this news release.
The Bralorne mine is located 150 air miles from Vancouver, BC. The Company is re-developing the former and very successful Bralorne, Pioneer and King gold mines. From 1928 to 1971, these three operations produced 4.15 million ounces of gold from 7.9 million tons of ore (equaling a grade of 0.53 ounces per ton). Bralorne, Pioneer and King represent the largest historic gold producers in the Canadian Cordillera. The Company remains well funded with no long-term or short-term debt.
Photo is from Bralorne Gold Mines.
