Japanese firm finds gold deposit in Alaska

Sumitomo Metal Mining Co Ltd has identified a new gold deposit during a recent exploration in Pogo Gold Mine in Alaska, US.

Named the ‘East Deep’, the deposit is located northeast of the main Liese deposit and contains approximately 1.283 million ounces (40 tonnes) of gold based on the latest resource and reserve estimates for the Pogo mine.

The latest resource and reserve estimates including the East Deep deposit as of December 31, 2011 show that the total resources and reserves of the Pogo gold mine is 13.594 million short tons (12.332 million tonnes) with an average gold grade of 0.366 ounces per short ton (12.5 g/t) and a gold content of 4.973 million ounces (155 tonnes).

The company plans to continue its current level of production of 10 to 11 tonnes annually.

Tag: US | Gold Mine

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