Thursday, May 8, 2008

Liberty says third new mine on the way

Liberty Mines Inc, which operates the Redstone nickel mine in the extreme southeastern corner of the city, said this week it has found positive results of more nickel ore after drilling on it’s Hart property, located about six kilometres east of the Redstone property.
Liberty says it expects this to lead to the creation of yet another nickel mine in Timmins. It Would become Liberty’s third producing nickel mine in Timmins.
In a statement released Wednesday, the company says diamond drilling on the Hart project, in Shaw Township, is nearing completion.
“Diamond drilling to date has defined an ore body with an average strike length of approximately 265m that can be subdivided into two zones based on sulphide content and ore zone width: the upper zone contained within the top 275m below surface, and the lower zone found below this elevation,” the statement said.
Earlier this year, Liberty Mines president Gary Nash said he was confident the Hart property would prove up with significant reserves.
Nash said the “pods” of nickel were being found in lava channels, which are ancient volcanic rock formations.
Nash said that the area was “under-explored” despite being owned by four different mining companies over the years.
Nash said that historically, the exploration drilling went to less than 200 feet.
“If everybody had looked the way they should have, the way these lava channels are formed and that’s why four previous owners of the Hart project just kinda gave up on it and its proving out for us to be one of the largest tonnage properties that we’ve got.”
Liberty’s vice president of exploration, William Randall, says more drilling results will be available in mid-May.
"We have now outlined a major portion of the deposit, and feel comfortable enough in our interpretations to hand the project over to the mining department,” Randall said in the company statement.
Liberty’s Redstone mining operation opened in Timmins last summer.
The Liberty McWatters Mine property, also in Shaw Township, is currently under development with an access ramp being driven from surface.
Work began in February and the company says the McWatters property should be in production by November of this year.

No comments: