https://www.northernontariobusiness.com/
Junior miners drilling and developing the next generation of gold mines in the Abitibi gold belt
Gold prices have slumped this month to below US$1,750 an ounce, but the Abitibi gold belt around Timmins continues to bustle with exploration activity this summer.
With more than 200 million ounces of historical production, this mineral-rich region remains a magnet for junior miners to make new discoveries or breathe new life into older ore bodies. In the West Timmins area, Galleon Gold is making preparations to begin test mining at its West Cache deposit in 2023.
The company, with Nordmin Engineering aboard, is doing the detailed engineering design to build a portal and drive a ramp into its Zone 9 deposit to collect a 100,000-tonne bulk sample.
West Cache is an advanced stage project, 13 kilometres west of Timmins, on Highway 101. Galleon’s next door neighbour is Pan American Silver with its Timmins West gold complex. Galleon published a preliminary economic assessment earlier this year outlining an 11-year mine operating life. The initial cost to develop the mine is $150 million.
For the rest of this article: https://www.northernontariobusiness.com/industry-news/mining/the-gold-exploration-surge-continues-in-timmins-5723008