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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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To: AlphaRomero who wrote (12561)	12/11/2009 9:14:49 AM
From: loantech	Read Replies (1) of 48092

No reason for that Lucky Friday has all they need. <G> LUCKY FRIDAY MINE Preliminary work on studies underway at the Lucky Friday mine in Idaho indicates that mine-life can be materially extended under several alternatives. The studies are examining deep development options to mine beyond 2015 under different capital and development schedules. The lower capital alternative could extend mine-life at Lucky Friday by four years for an estimated investment of less than $10 million.The capital required would be deployed to increase the cooling capacity of the ventilation system and for mine development using existing infrastructure. A second scenario, requiring a greater capital investment is currently the subject of a feasibility study that will detail long-term infrastructure development of the mine that could extend mine-life by several decades. The feasibility study started earlier in the year and should be complete in the first quarter of 2010. The study will assess the various alternatives for deep development below the 6300 level of the mine including construction of an internal shaft or ramp system for access. Drilling completed since the last resource estimate in 2008 indicates that the 30-vein has significantly higher grades and thicker widths at depth. Accelerating development in this portion of the mine could have significant economic benefits resulting in increased metal production and potential operating cost savings due to increased volumes of higher-grade material. An analysis for both studies of the different variables such as grade, metal prices, capital and operating costs will be modeled with additional sensitivity analysis to highlight the optimal economic return for deep development at Lucky Friday. Baker commented, “Some of the most exciting developments in decades are occurring at the Lucky Friday mine. <Deeper testing also along the eastern portion of the lower limit of the 2008 resource boundary continued to intersect multiple veins including intercepts such as 11.5 feet of 37.9 ounces per ton silver plus 21.8% lead and 8.9% zinc at 7650 level and 5 feet of 59.1 ounces per ton silver, 19% lead and 0.4% zinc and another step-out hole at a similar depth.> Information on stockhouse 9/9 and 11/3/

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