USMX Illinois Creek Project Progressing Well

摘要

The present plan involves mining the deposit over a five-year period and heap leaching run-of-mine ore to recover in excess of 50,000 oz. of gold per year. Mining would be conducted six months per year. Heap leaching would be undertaken year-round; however, the process system is being designed to recover scheduled annual production over an eight month season, providing an adequate safety factor in the event of unforeseen difficulties with respect to weather. Environmental permitting efforts have also progressed favorably. Support for the project and permitting process by state and federal agencies and the people of Alaska have been encouraging. The draft permit application was submitted to the state of Alaska on Dec. 20, which improves the possibility that final permits could be issued as early as April 1996, after which USMX board of directors would make a decision regarding the initiation of production. Completion of the feasibility report and receipt of all operating permits, normally forthcoming in a timely manner, could allow construction to commence in June.