https://www.northernontariobusiness.com/
Vault Minerals charts a new mine plan, eyes more ounces at Sugar Zone
The cone of silence prevails on a possible restart date of the Sugar Zone mine, north of White River. Vault Minerals, however, is shedding some light on how things will come together to resume production at the mothballed underground operation based on some details in a February news release and an investor presentation this month.
Vault is a merged entity of two Australian mining companies, consisting of Silver Lake Resources, which originally acquired Sugar Zone in 2022, and Red 5. The companies rebranded to its current name last June.
Mining at Sugar Zone ground to a halt in the summer of 2023 when Silver Lake decided to re-evaluate the whole operation and come up with a new mine plan. That began with a 93,000-metre drill program, intended to get a better understanding of the ore body in and around the mine.
For the rest of this article: https://www.northernontariobusiness.com/industry-news/mining/restart-date-for-white-river-mine-remains-in-the-vault-10396056