- Minnova (MCI) has re-started drilling at its PL Mine in Manitoba
- The program is targeting 25-hundred metres of drilling
- The company hopes to continue to demonstrate exploration upside at the mine site
- If a near-surface resource is defined, it may be considered for a future bulk sample for metallurgical test work
- Minnova shares are up 2.41 per cent on the day, trading at C$0.42 at 1:07 p.m. EST
Minnova (MCI) has re-started drilling at its PL Mine in Manitoba.
It is part of the company’s 2021 restart programs.
The initial 2021 drill program expects to complete 25-hundred metres of drilling at the PL North target.
The program is meant to expand current resources, particularly at shallow depths of less than 150 metres and to continue to demonstrate exploration upside at the mine site.
Minnova president and CEO Gorden Glenn said the company has been busy preparing for its winter program since last fall.
“We have completed the first hole of the program to a target depth of 152 metres. We encountered all mineralized structures at targeted depths. The core is being logged, RQD’d and sampled as I write this from the PL Mine site,” Glenn said.
The program’s results will also be used to update and potentially modify or optimize the company’s mine development approach.
If it can define a near surface resource, it may be considered for a future bulk sample for metallurgical test work.
Minnova is a gold producing company headquarterd in Toronto, primarily focused on re-starting the PL Gold Mine and expanding gold resources on its PL and Nokomis gold deposits.
The company has completed a positive feasibility study in support of re-starting the PL Mine at an average annual production rate of 46,493 ounces over a minimum five- year mine life.
The resource remains open to expansion and surface exploration work programs have and will continue to target resource expansion.
The mine itself has a relatively short pre-production timeline forecast at 15 months, benefits from a valid underground mining permit, an existing processing plant, over 7,000 metres of developed underground ramp to a 135-metre depth, is fully road accessible and close to existing mining infrastructure.
It is located in the Flin Flon-Snow Lake Greenstone Belt of central Manitoba.
Minnova shares are up 2.41 per cent on the day, trading at C$0.42 at 1:07 p.m. EST.