This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Premier Gold JV drills 1.5 m of 11.44 g/t Au 2009-11-06 15:43 ET - News Release Mr. Ewan Downie reports PREMIER - RED LAKE JOINT VENTURE TO PARTICIPATE IN MAJOR UNDERGROUND DEVELOPMENT PROJECT - DISCOVERS NEW GOLD HORIZON
The Rahill-Bonanza project joint venture, a joint venture between Premier Gold Mines Ltd. and Red Lake Gold Mines Partnership (RLGM), a partnership between Goldcorp Inc. and Goldcorp Canada Ltd., is in discussions with RLGM to participate in a major underground development program that Goldcorp expects to undertake at the Red Lake gold mines mine complex.
High-speed tram
Goldcorp has announced that a trade-off study has indicated that the construction of a high-speed tram to connect the Red Lake gold mines complex and the Cochenour (Bruce Channel) mine complex is the favoured method to develop its Cochenour deposit. A portion of this tram may pass through, or in close proximity to, the joint venture project providing an excellent exploration platform. This tram will intersect several kilometres of some of the highest-potential and untested geology along the main Red Lake mine trend. The Red Lake gold mine is considered to be one of the world's richest gold mines with production of more than 18 million ounces of gold and nearly 10 million ounces of resources.
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