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Friday, 24th June 2005 (4691 views)

A historic gold mine in Central City, Colorado, USA is to re-open after being saved by a Minneapolis-based company.<br/><br/>The Bates-Hunter mine, which has not been in operation for almost 70 years, is to be see investment worth US $1.2 million by Wits Basin Precious Metals.<br/><br/>The mine will be drained, prepared and tested, with Wits Basin believing up to nine gold veins could be contained within.<br/><br/>Historically, gold veins in the area have produced roughly 750,000 ounces of gold at about 600 feet below ground.<br/><br/>"We are going by historical records," Vance White, CEO of Wits Basin, told Rocky Mountain News. <br/><br/>"Until we get underground, we won't have an exact understanding what was taken out and what remains. Historically, the grades were very good, and the levels were very good. <br/><br/>"We feel that with underground exploration, the mine will generate a nice little resource." <br/><br/>The first phase will take three to six months of preparation, with the second phase then kicking in to try to locate the gold.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=16010018"/>

 

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