MGX Minerals Inc (CSE:XMG) (OTCPINK:MGXMF) announced Monday that a field crew has reached the Heino-Money gold deposit mine portal and drill core storage area in British Columbia.
Previously, the field crew had cleared 11 kilometers (km) of the mine access road at the end of 14 km of an active logging road connected to the main British Columbia highway system and reached the previously constructed 75-man camp.
MGX Minerals said access by road in snow, up to eight-feet deep, prevented further progress on the ground. Utilizing helicopter support, based out of Nakusp, British Columbia, allowed the field crew to reconnaissance the area and land at the core storage area.
READ: MGX Minerals to obtain 1,000 digital data files covering Heino-Money gold deposit and Tillicum Claims in British Columbia
The Vancouver-based company said the field crew has identified over 30 drill core storage racks, containing up to 10 x 10 drill core storage boxes each. A vast amount of core appears to be labeled, organized by year and in good condition with visible mineralization.
In excess of 400 diamond drill holes, representing over 40,000 meters, are reported to have been completed by previous owners, approximately half of which were drilled from five levels of underground development.
Heino-Money, which the company acquired last month, was active between 1981 and 1993 and produced around 5,800 tons of gold and silver ore. In its last year of operation, 5,503 tons of mineralization with an estimated head grade of 24.4 grams per ton gold was shipped to a mill for processing, and approximately 102,443 grams of gold and 149,546 grams of silver were recovered into concentrates that were shipped to Japan for smelting.
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