St. Eugene Contracts MineTech to Assist With Advancement of the Tartan Lake Gold Mine
TORONTO, ONTARIO--(Marketwire - June 1, 2010) - St. Eugene Mining (TSX VENTURE:SEM) announces that it has retained MineTech International Limited, an engineering consulting firm, to work with the Company on a number of activities related to advancing the Tartan gold mine to a production decision.
Mr. Patrick Hannon, M.A.Sc, P.Eng., a principal of MineTech and lead consultant for this mandate, is familiar with the Tartan Lake project, having formerly worked as Claude Resources' Vice President Exploration (the prior owner of the Tartan Lake Mine project). Pat Hannon and his team are equipped to critically assess the requirements of the Tartan situation and to recommend pragmatic solutions. The added knowledge base brought by Hannon and his team to the Tartan Lake Mine project stems from having been involved in the engineering and implementation of a 2004 program to dewater the mine and expand the gold resource base by diamond drilling from underground. This program was suspended after partial dewatering of the mine due to low gold prices ($400-425 US per ounce). St. Eugene considers that re-implementing this strategy provides the best option for increasing the mine resource base, and is therefore looking to MineTech and to the Company's other consultants to advise, and, if warranted, to plan and initiate a similar program, concurrently with obtaining a bulk sample for metallurgical testing.
Specifically, MineTech will provide geological and engineering personnel to finalize the partially complete study to upgrade the Tartan Lake historic gold resources base to NI 43-101 compliance. In addition, MineTech will coordinate with St. Eugene's management and other consultants to: (i) establish the requirements and prepare engineering plans to accompany a permit application to allow for dewatering of the mine; (ii) establish the requirements to update the existing Mine discharge license and advise on corrective activities for same; and (iii) provide assistance in a number of studies and activities designed to enhance the asset value of the Tartan mine, including an evaluation of the economics of recovering a portion of the gold contained in the tailings discharged from the previous Tartan mining operation.
The Tartan Lake mining project consists of a 440 tonne/day gold concentrator, largely intact, related infrastructure, and a 1,000 foot decline access to existing developed mining blocks. The property is road accessible from the nearby mining town of Flin Flon and is hydro connected. The property provides the Company with the potential to identify additional ore and to expand on the historic gold production from a number of gold zones adjacent to the mine and from the Amisk Lake property.
Roland Trenaman, B.Sc., Chief Operating Officer, is a "Qualified Person" as defined in National Instrument 43-101 and has reviewed the technical information presented in this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.