American Bonanza Gold Mining Continues Plans for Copperstone Gold Mine Restart

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). American Bonanza Gold Mining Corporation (CDNX:BZA) (Vancouver, British Columbia) is proceeding with exploration and development activities for its Copperstone Gold property located north of Quartzite, Arizona. The original mine and flotation/CIP (Carbon-In-Pulp) process plant was closed down in 1993 and some remediation has been done at the site. However, further exploration indicates a gold resource exceeding 1.2 million ounces. Scoping and feasibility studies carried out in the late 90's indicated that the mine and mill could be restarted at a cost of $22.5 million. The company would use drift and fill underground mining techniques.

American Bonanza Gold is currently looking for a contractor to complete a decline into the mine site so further exploration and a bulk-sampling program can be initiated. Ultimately the company would like to revisit the feasibility stage in 2003. If the economics are there, the mine could be up and running in 2004 or 2005.