Wednesday, December 23, 2009 7:38:13 AM
Encore Renaissance Resources Corp. (TSX-V: EZ) (PINKSHEETS: ERRCF) says it will commence underground mining at its Bonaparte Gold Mine after receiving the go ahead by Canadian mine regulators. The gold mine will ship ore to Kinross' Gold's Kettle River Mill in Washington.
EZ's Bonaparte Gold Mine shipped 500 tons of ore to Kinross Gold Corp.'s (KGC) Kettle River Mill in September. Encore Renaissance said indications from its sample tonnage sent to Kinross' mill came back at 1.4 ounces per ton on a 97.5% rate of recovery, which amounts to a near-bonanza grade of gold.
When asked about further exploration at the Bonaparte Gold Mine, McClay said that if production levels could be brought up to 120 ton per day or higher, Encore would be one of the few junior gold mining companies that wouldn't need to raise further capital if gold prices remain at current levels. "We're just going to go do it," McClay stated.
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http://www.encorerenaissance.com/
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