San Gold Corp. is an emerging gold producer in Manitoba, Canada. Since 2004, the Company has tripled its audited resource ounces from 550,000 to 1.6 million. San Gold Corporation was formed in 2005 by the union of San Gold Resources Corporation of Bissett, MB and Gold City Industries Ltd of Vancouver, B.C.
San Gold produces ore from two mines: Rice Lake Mine and the newly developed SG-1 mine located 3 kilometers east of the Rice Lake Mine. Plans of a third mine are in development on the newly discovered Cartwright deposit 2 kilometers to the west of the Rice Lake Mine. The portal for the Cartwright deposit will be only 200 meters from the processing mill at the Rice Lake Mine. The Rice Lake Mine infrastructure includes a 1250-ton per day processing mill and processing equipment for producing the ore into dore bars on-site.
The Company owns 12,000 hectares in the Rice Lake Greenstone Belt. Through option agreements and joint venture agreements with other explorers in the Belt, San Gold also has access to 3000 additional hectares. The Company controls a land position 12 kilometers long that runs east and west along the mine horizon. Additionally, in the SE portion of the Belt, there is a large zone of alteration and several old mining shafts from the 1920’s and 1930’s.
San Gold’s goal is to develop a number of mines in the Rice Lake area in order to reduce the risk. The company plans to continue developing the Rice Lake Greenstone Belt so that the number of ounces of gold produced is maximized against the need for a successful long mine-life. The company also plans to invest in properties in various locations as to not operate in one geographical setting and maximize profit.
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