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International Wayside Gold Mines Ltd -
Int'l Wayside to develop Cariboo gold project
International Wayside Gold Mines
Ltd
IWA
Shares issued 27,403,013
2000-04-03 close $1.38
Tuesday Apr 4 2000
Mr. J. Frank Callaghan reports
The board of directors of International Wayside Gold Mines
Ltd. has submitted an application to the British Columbia
Environmental Assessment Office to develop the Cariboo gold
project, near Wells, B.C.
As required by the B.C. Environmental Assessment Act, the
application will be screened for completeness, and then
released to government agencies and the public for review.
Open houses to present the application and elicit preliminary
public response will be held in Wells, Quesnel and Prince
George in late April, 2000.
The application presents a conceptual plan for a
3,000-ton-per-day open pit and underground gold mining
operation. The project includes upgrading the single phase
Quesnel-Barkerville power line to provide three-phase power
for milling operations. The powerline upgrade can be
achieved using the existing right-of-way, and no new off-site
access roads or camps are required in support of mine
development.
The conceptual plan will be refined over time as a result of
further environmental and technical studies currently in
progress, government direction and public input. A detailed
project report will be submitted in the fall of this year.
Strategic permits will be applied for concurrently with project
review. On approval of the project, construction would
commence early in 2001, with full production in early 2002.
The project has an estimated capital cost of $60-million, will
employ approximately 150 direct workers from the Cariboo
region, and has an estimated life of 10 years. The recent
discovery near the B.C. vein where drilling continues has the
potential to bolster identified reserves and existing economic
feasibility of the project. |
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