184 www. bus- ex. com NOVEMBER 09 as As gold good
This exploration and mining company is tapping into one of Canada's largest gold regions. Jaclyn Beck reports I n the 1850s, thousands of people were lured into the remote Cariboo region in south- central British Colombia by the discovery of gold. The Cariboo Gold Rush, as it is called, is the most famous of the gold rushes in British Columbia, so much so that it is sometimes erroneously cited as the reason for the creation of the colony of British Columbia. Today, the historic Cariboo Goldfields are the second largest in Canada in size and production, and they are currently being explored by more than 20 companies that use the most up- to- date exploration technologies. The region has recorded gold production totaling more than 3.8 million ounces, including an estimated 2.6 million ounces from placer mining ( where deposits of loose sand and gravel are sifted for valuable minerals, such as gold) and 1.2 million ounces from lode mining ( where the minerals are found underground or in solid rock). International Wayside Gold is one of those companies, having maintained operations in the Cariboo District since 1994. The company, which started its operations in 1971, is focused on the exploration and development of past-producing gold properties and is working to delineate multimillion- ounce gold resources. To date, the company has completed more that 50,000 miles of drilling, and two projects currently under way- the Bonanza Ledge project and the Cross Lake project- will continue to expand and refine the company's access to gold. The Bonanza Ledge is a gold deposit on the southwest flank of Barkerville Mountain, about two kilometers northwest of the Barkerville historic town site. The deposit was discovered by Wayside Gold in 2000 and is a type of mineralization that had never before been identified in the Barkerville area. The project is an open pit operation that will mine ore at a rate of 200 tonnes ( metric tons) per day and is expected to produce an average of 20,000 ounces of gold per year. The company received a positive pre- feasibility study in September 2009, conducted by a team of independent qualified persons, professionals and consulting companies that included EBA Engineering Consultants Ltd. for an overall report, F. Wright Consulting Inc. for metallurgy, and Mintec for resources and reserves. Wayside Gold has also run project sensitivity analyses NOVEMBER 09 www. bus- ex. com 185 International Wayside Gold, Ltd.