Business
Crosshair Signs Bulk Sample Contract for Golden Promise
Crosshair Signs Bulk Sample Contract for Golden Promise
About this update from Stantec Inc
[{"type":"text","content":"\nCrosshair Signs Bulk Sample Contract for Golden Promise\n\n\n Jun. 24, 2010 (Filing Services Canada) -- Crosshair Exploration & Mining Corp. (CXX - TSX, CXZ - NYSE Amex),(\"Crosshair\") is pleased to announce that it has awarded the contract for the planned bulk sample program at Golden Promise in central Newfoundland, Canada to Stantec Consulting Ltd. (\"Stantec\"). The Golden Promise Project is a joint venture with Paragon Minerals Corporation (TSX.V: PGR) (\"Paragon\").  An application for a Mining Lease has been made to the Department of Natural Resources.  Stantec will immediately commence the preparation of the Environmental plan and the design of the trench in anticipation of commencing the overburden removal in early September.  Given the high-nugget gold effect at the Jaclyn Main Deposit, a bulk sample is being carried out in order to determine a more representative gold grade for the Jaclyn resource.  Assay results from diamond drilling alone may not be an effective means of reliably determining grade in these types of systems.  Studies of other high-nugget effect gold deposits, including deposits from the Bendigo Goldfield, indicate that assays from surface diamond drill holes may understate the actual in-situ gold grade.  The bulk sample is also aimed at testing structural and grade continuity and mining/milling characteristics for the Jaclyn Main Deposit.Stantec will provide planning, design and project management services to the bulk sample program.  They will be preparing an Environmental Compliance Plan, a cost estimate for the bulk sample and milling program, a design for the trench to remove approximately 2,000 to 3,000 tonnes from the vein system, as well as hiring all the contractors for the removal of the overburden, blasting of the vein, and removal and trucking of the ore to one of the nearby mills.  Stantec was founded in 1954 and is a full-service consulting organization with a team of professionals that can assist in all aspects of a project life cycle's requirements, from planning, through to design engineering and construction management.  Their team consists of highly trained individuals with the experience, technical ability and capacity to bring significant value to the Golden Promise Project.  The...