Page AB - The Terrace Standard, Wednesday, July 21, 1993

USINESS REVIE

Golden feasibility
study nearly ready

TERRACE — A feasibility
study on Homestake Canada’s
plan to develop a gold mine at
Eskay Creck should be placed be-
fore the company’s board of
directors. the middle — of next
month. .

And it'll be accompanied by the
company’s formal application to

the provincial government for the -

mine’s approval, company presi-
dent Jack Thompson said last
weck.

Homestake wants to spend. be-
tween. $180 and $200 million on
the mine which will have a life

span of cight to 10. years. It will ...

employ 230

approximately -
people.

We had the series ‘of ppublle -

meetings and got comments back
from the ministries. We're now |
getting answers to all those ques-
tions,’? said Thompson,

What makes him happy is the
response. by the. provincial
government to the project.

“The tum around is really fast
with the government. There is ex-
cellent cooperation. We know our
application will go right to the
senior levels for review,” said .
Thompson,

The province has also suggested.
it'll first review “ Homestake’s
road proposal for a‘ connection
from the Iskut mining road in the
north to the Eskay site. -
‘That means approval could -
come there first and we'll be able
to got a start before winter this.
year,’ said Thompson.

Homestake wants to establish a
base camp at Eskay, move in

equipment and fuel, and. rought--!) >

out ,a Tight of. way, .this year,in
preparation for. road construction
next year. .

“Hf we/can, sg r sein) ~

Eskhy and’ fro athe ea ai
we'll save a lot ‘of te, Me ’ Thomp-
son added.

That kind of. schedule, énce ap- —

provals are given, should’ fit the

Out
and |
about

TERRACE — There "nts 500m b
one less real estate firm in town.

Remax is buying oul-.Reaity.

World Lakelse Realty and ~ the :

original schedule of having the
mine ready by the end of 1995. he
said.

Houston is to be the beneficiary
of a lot of those jobs because the
company wants to use an area
near Equity silver mine to process
the ore.

Homestake says 80 people will
be employed at the minesite and
125 to 150 direct jobs will be cre-
aied in Houston.

Homestake wants to process the
ore at Houston because a lot of
the environmental information it
needs .is available through the
Equity experience.

Hydro lines, a road. and skilled

‘-work force are.also close at hand.
‘The ore will be taken from Es- |
kay Creek by.road to Bob Quinn

Lake on Hwy37 where it will be

transferred from mining trucks to -
highway trucks for the journey to .

Houston.

Mine workers will be flown in -.
_ and outofthe mine site.
Work to date indicates the Es-

kay property can support a 360

tonne per day plant producing -
‘250,000 ounces of gold, 11 mil-—
lion ounces of | silver, 8,000:

tonnes of zinc and 1, 000: tonnes

, of copper a year.

' the world,

The Eskay Creek area became
one of the hottest gold plays in
North America in the late 1980s
when a number of companies, in-
cluding ones owned by Murray
Pezim, began staking claims.

Homestake Mining Company,
the parent to Homestake Canada,
became the major player last year
when it acquired control of Inter-
national Corona, up until then the
dominant company in the Eskay
area.

Homestake also ended up with
a 20 per cent position in the
Cominco-owned Snip gold mine
in the Iskut Valley through its In-
ternational Corona acquisition.

Homestake already had an 83
per cent ownership position in the
Golden Bear mine west of Dease
Lake through its control of North
American Metals,

And it has a piece of the

“Newhawk company which has

the Sulphurets gold development
property north of Meziadin.
Homestake’s International
Corona acquisition also gives it
ownership of the Williams and
David Bell mines located in the
gold-rich Hemlo area of Ontario.
The company has mines around

lransaction will be official . the | mpegs

end of this month.
Remax ‘manager John Evans

said Realty World owner Verne -

Ferguson and three Realty World
agents are-comirig over to Remax. ..
Other Realty ‘World ‘agents are -
going to: other. ‘Tealty. agencies
around town.” : ~
Evans - said the ‘sale’ should not
be interpreted. 10° mean: there are’
too, many.real, estate: ‘firms in the .
city,
I think this’ is a natural thing
to happen, Remember that there.

won’t be a drop in the number of -’:

agents,’ said Evans. ae
kk kkk

Terrace has joined the ‘list of |.

BC,
Unilel.
Formed “sv “years” aga

Cities ., being served “by

tance telephone and data service,

fi is now renting ~ telephone ae

company lines but is putting in its.
own lines across the country,

Unitel’s service date. to. Terrace...
became effective: July 15, Also.
coming. on'-line. that: day ‘were;

Whistler, Courtenay and:Nelson. :\:-

The Terrace. coverage: jncludes.
New Aiyansh because - ‘tesident
of that area can call Terrace at Ho:
charge.

Other B.C, places covered by’
Unite! include Victoria, lhe lower
malnland, Prince George, Ab-
botsford, Kamloops, Chilliwack
and Penticton,

kkkkk

There’s a new. eating place in

town.

Sugarbakers; a. gourtnel. take out...’
and coffee bat, “opened Inst week.
in. the'‘spot! “once: occupied | -
Tam’s, 7’

Owner Ingrid Palmu sald. the -
outlet is in response to her feel-—
ings, and. those: of others,” of the:
need for more food variety. ~

,

FOUNDATIONS - Construction i is: finally undeiway at the at the corner of Kalum and Walsh,”

where four-plexes are being developed. The construction marks the end of a two- “year bate 1
for Wescor developer Ray Lovstad to > get the property re-zoned for development. ae

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