More terrific news today.... the gifts don't stop.
Post# of 43
More terrific news today.... the gifts don't stop...
TORONTO , Dec. 6, 2013 /PRNewswire/ -- Trio Resources, Inc. ("Trio" or the "Company") (OTCBB: TRII; www.trioresources.com ) is pleased to announce that it has finalized plans with geologist Joerg Kleinbock of JMK Exploration to begin exploration work at the Stairs gold mine. Mr. Kleinbock will bring his many years of experience overseeing large projects to his new role at the historical gold producer, where he will handle all permitting requirements and day-to-day management.
Trio signed the Stairs joint venture agreement in September 2013 with Teck Resources, committing $1.5 million to be spent on the property over a three year period to earn into the Company's stake.
Phase 1 of the surface work, which includes compilation, geophysics and geology, is anticipated to cost approximately $250,000 . Phase 1 drilling targets are estimated at 5,000 meters at a cost of over $800,000 including assaying work. Phase 1's administrative budget is estimated at $25,000 . With positive results, Phase 2 estimates will be announced for further drilling and analysis.
"Trio Resources remains on track with our strategy to finance exploration work from the cash flows we expect to generate once our new 100 ton mill is installed on our Cobalt property," stated Duncan Reid , CEO of Trio Resources, Inc. "Once the mill is commissioned, we can use it to monetize the large quantities of silver-bearing material on the property. Looking ahead, we plan to outfit the site with a 300 ton mill to further ramp up production and maximize growth."
It's all about what you know, your money and whether you believe...
Very best to all with our KMAGnificent TRII !