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New Ore Deposit In Pogo Gold Mine, Alaska, USA
= Sumitomo Metal Mining and Sumitomo Corporation identified during a recent exploration=
Sumitomo Corporation announced on Mar 27 that a new gold deposit had been identified during a recent exploration carried out with the aim of acquiring additional deposits in the Pogo gold mine (Alaska, USA), which is owned by Sumitomo Metal Mining Co., Ltd. and Sumitomo Corporation. The new deposit (named the "East Deep" deposit) is located northeast of the main Liese deposit and contains approximately 40 tonnes of gold based on the latest resource and reserve estimates for the Pogo mine.

As a result of intensive exploration both surface and underground of the Pogo gold mine after the commencement of production in 2006, the East Deep deposit (E1 orebody) was identified 300m northeast of the Liese gold deposit, which is the main deposit currently subject to mining activities.

The latest resource and reserve estimates including the East Deep deposit as of December 31 of 2011 show that the total resources and reserves of the Pogo gold mine is 12.332 million tonnes with an average gold grade of 12.5 g/t and a gold content of 155 tonnes. With regard to the scale of production, the Pogo gold mine will maintain annual current production level of 10 to 11 tonnes.

Investment ratio of Pogo gold mine is: Sumitomo Metal Mining 85%, Sumitomo Corporation 15%.
last modified : Mon 02 Apr, 2012 [13:48]
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