2012 exploration - $25 million
Exploration and development of Gold deposits - Kirkland Lake Gold camp
Queenston Mining Profile
QUEENSTON MINING INC. Toronto, On, (QMI-TSX, Frankfurt, QMNMF-OTCQX) is a Canadian mineral exploration and development company with a primary focus on its holdings in the historic Kirkland Lake gold camp comprising 235 km² of prime exploration lands.
The Company’s assets include 6, 100% owned gold deposits that are various stages of exploration and development.
The objective of the Company is to advance the flagship Upper Beaver project, towards feasibility and production. The project is currently being permitted for advanced exploration leading to new shaft development beginning in 2012.
The Company is also very active in exploring and advancing five other 100% owned deposit that will provide additional feed for a central milling facility.
The Company has cash and short-term investments of approximately $86 million, no debt and a fiscal 2012 exploration budget of $25 million.
In the Cadillac gold camp Queenston maintains two past producing gold properties along the Cadillac Break. A joint venture with Globex Mining Enterprises Inc. will continue exploration drilling on the Wood-Pandora property.
The Wood‐Pandora property is adjacent to the LaRonde Mine property operated by Agnico‐Eagle Mines Inc. On the JV “Globex” property there are historic inferred mineral resources of 1.43 million t grading 5.3 g/t Au in two deposits, Wood and Central Cadillac.
Last changed at 12-Feb-2012 05:23PM by M