Treasury Metals, First Mining Gold, Auteco Minerals expect to add ounces to burgeoning gold projects
Gold remains the backbone of mining activity in northwestern Ontario. And the prospects look bright for the next generation of mines with three exploration projects steadily maturing in the development cycles. Treasury Metals expects to post a new resource calculation this quarter of its massive Goliath Gold Complex, east of Dryden.
Just before Christmas, the Toronto mine developer put the wraps on the project’s largest ever drill program, at 60,000 metres, before cranking up a new campaign this winter to follow up on some promising new targets. The company holds 330-square-kilometre property between Dryden and Sioux Lookout.
The company released some encouraging drill results in a Feb. 2 news release as Treasury anticipates more ounces to an already viable mining project that’s pegged for a 13-year mine life.
Situated just north of the Trans-Canada Highway, Treasury’s ground runs southwest to northwest, consisting of the Goliath, Goldlund and Miller deposits. Goliath has always been the flagship deposit with the potential for both pit and underground mining.