Dryden-area mine developer begins exploration, environmental work to create district-scale gold mine
Northwestern Ontario mine developer Treasury Metals has finalized the acquisition of a gold property to create a district-sized mine operation, east of Dryden.
Treasury said its addition of the Goldlund gold project from First Mining Gold, announced in June, got the thumbs-up from shareholders at the Toronto company’s annual and special meeting this week.
Treasury’s proposed Goliath open-pit gold property, just 20 kilometres east of Dryden, is next to the Goldlund project, which runs to the northeast toward Sioux Lookout. The combined 300-square-kilometre properties has an estimated resource base of 3.1 million ounces of gold with plenty ofexploration upside.
Treasury now officially takes over exploration at Goldlund. An economic study begins on co-development opportunities involving both projects.
First Mining CEO Dan Wilton also takes a seat on Treasury’s board of directors as First Mining becomes Treasury’s largest shareholder.