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Formation Metals Inc. (TSX:FMO) reported construction progress at the Idaho project including commencement of geotechnical drilling, renovation of the existing ball mill and final engineering of the Cobalt Production Facility.
Over the course of the next several months, the Company intends to continue with those construction activities at the minesite which are least adverse to winter conditions. These activities include the drilling of surface monitoring wells and the preparation of the work areas adjacent to the mine. Plowing of snow and maintenance of access roads and building sites is ongoing and will continue throughout the winter months.
Formation Metals Inc, CEO, Mari-Ann Green, said:
“Limiting construction over the winter months will affect the schedule for initial production, but at this point, we expect it will be minimal.” She continued, “Right now the Company is concentrating its efforts on securing the credit support necessary for the Recovery Zone Facility Bonds [see Company News Release dated November 22, 2011]. Once this is in place, the Company intends to prepare an updated construction and production schedule.”
Click here to read the Formation Metals Inc. (TSX:FCO) press release
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