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Hawthorne Gold Corp. has
assembled an experienced and knowledgeable team of
mining professionals to advance their dual projects in
the mineral-rich province of British Columbia. Led by
President & CEO Richard Barclay, Hawthorne is focused on
bringing their Table Mountain Deposit in far northern BC
into production as rapidly as possible while advancing
exploration and development at the Taurus Deposit,
adjacent to Table Mountain while also aggressively
continuing exploration work at the Frasergold Deposit in
the historic Cariboo Gold District. |
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Hawthorne added
both the Table Mountain Gold Mine and the Taurus
Deposit to its project portfolio when it
acquired Cusac Gold Mines Ltd. in April, 2008.
Both projects are located in the historic
Cassiar Gold Camp and past production at Table
Mountain has amounted to more than 500,000
ounces of gold from ore grading an average of
approximately 15 grams per tonne (gpt).
The fully
permitted plant at Table Mountain includes a 300
tonne per day gravity flotation mill, a
diesel-generated power plant, an assay
laboratory and a tailings pond. All plant
equipment is in operating order and the company
plans to resume production at the mine at the
earliest possible time, currently anticipated
during 2009. Gold mineralization at Table
Mountain is primarily hosted in extensive
quartz-carbonate-gold vein systems strongly
associated with thrust faulting. |
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Production will come from ore already discovered at
Table Mountain plus material from the large-tonnage,
low-grade Taurus Deposit which hosts a NI43-101
compliant inferred gold resource amounting to 1.04
million ounces contained within 32.4 million tonnes
grading 1.0 gpt. The company plans to expand resources
at Taurus and nearby Taurus II with the goal of
proceeding to feasibility. |
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Hawthorne's other
important project is the Frasergold Property, optioned
from Eureka Resources and located in the historic
Quesnel Trough area of central BC. The company regards
this project as an open pittable, bulk-tonnage,
multi-million ounce opportunity and plans to extend
known mineralization as rapidly as possible.
Previous operators had
drilled 38,000 meters of diamond and reverse circulation
drilling and had identified a two kilometer "Main Zone"
on a ten kilometer mineralized zone. The company is
proceeding with a diamond drill program during 2008 with
the goal of gaining a better understanding of the size
and potential of the deposit and, ultimately, the
commissioning of a NI43-101 compliant resource estimate
along the mineralized zone.
Hawthorne has almost C$12 million in working capital,
thanks to a successful financing completed this past
April, and, as of mid-July 2008, a relatively low 35.9
million shares on a fully diluted basis.
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A complete in-depth study will be posted following a property
visit, currently scheduled for
July 22-23, 2008.
Leonard Melman
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Contact Information
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Hawthorne Gold Corp.
Suite 1580, One Bentall Centre
505 Burrard Street, Box 72
Vancouver, BC
Canada V7X 1M5 |
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D I S C L A I M E R
The information presented on companies herein is based on data and
information which we believe to be true and supported from reliable sources.
However, the accuracy of this information is not implied nor can it be
guaranteed. All objective reports contained herein are those of the editor and are
offered for a fee and are to be used for information purposes only.
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