Shore Gold says Saskatchewan diamond mine is feasible

PRINCE ALBERT, Sask. – Shore Gold (TSX:SGF) has announced the results of a feasibility study done on the Fort a la Corne site near Prince Albert.

George Read, senior vice-president of exploration and development, says the results show that a world class diamond mine is feasible in central Saskatchewan.

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That’s in part because of the site’s proximity to infrastructure such as power, paved highways, railroads, labour and water.

Total diamond production is expected to be in the 34.4 million carat range over a 20-year period.

Read says the next step will be to produce a technical report which will go to their partner in the project.

Once permits are issued, the ground could break on a new diamond mine in 2012 with production set to start in 2016.

Read says the mine would employ 500 people.

(CJWW)