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Scorpio Gold Minerals Signs Mining Contract with Ledcor CMI

Published on May 23, 2011 at 1:09 AM

By Joel Scanlon

Scorpio Gold, a joint venture partner of Golden Phoenix Minerals, has signed a mining contract with Ledcor CMI for the Mineral Ridge Gold heap leach project.

Now, Ledcor is offering contract mining services for both Barrick Gold and Newmont Mining in Nevada.

At present, the company has 30% interest in the Mineral Ridge Gold project through its membership interest in Mineral Ridge Gold. The addition of companies and individuals including the work with Newmont, Barrick and Fronteer Gold is establishing a foundation for the expected upcoming growth.

The primary term of the contract will extend till May 1, 2012. It is renewable yearly until the project is finished. The recent mine plan includes mining of 3.2 million tons of mineralized material and extraction of waste rock.

Ledcor has commenced the equipment mobilization with site facilities predicted to finish by June 3, 2011. The company is going to commence mining by cleaning slack material and taking out mineralized material stock piles.

The first production is scheduled for about 14,000 total tons per day that increases to full production plan of around 20,000 tons per day.

Ledcor will be in charge of all phases of drilling, blasting, loading and material hauling and Mineral Ridge Gold will be in charge for pit and dump outline, blast hole analyzing and grade control.

Source: http://www.golden-phoenix.com/

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