The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
Continued from pg. 3 In 1993, Kilborn Engineering Pacific Ltd. estimated that the property contained probable resources of 1,346,200 tonnes of mineralization containing 8.57 g/t gold and possible resources of 833,700 tonnes at 7.15 g/t gold. But since those estimates have not been verified using today's mineral reporting requirements, Auriga said they should not be relied upon. Auriga announced last spring that it had agreed to purchase the Puffy Lake Mine and adjacent property. At the time, the company expected a decision on whether to restart the mine would not come until late 2011. "We acquired this with the anticipation that this is going to be successful," said Sutcliffe at the time, "but we figure it needs 18 months of exploration work and feasibility work to pull the package together such that a production decision could be financed." Sutcliffe said a project the size of Puffy Lake would employ, in very rough terms, about 120 people in the mine and existing mill and concentrator. 'Excellent condition' Auriga stated that the mill and concentrator remain in "excellent condition" despite sitting dormant for more than 20 years. Puffy Lake produced over 28,000 ounces of gold in 1988 and 1989. Though Auriga is a fairly new company, Sutcliffe said its management team has experience reviving two other dormant mines: a gold mine northeast of Wawa, Ont., and a nickel mine just west of Sudbury, Ont. Both mines are now operated by different companies, but Sutcliffe said any future operations at Puffy Lake would be conducted by Auriga itself. No stock exchange, securities commission or other regulatory authority approved or disapproved of information supplied by Auriga.
