https://www.northernontariobusiness.com/
STLLR Gold says Hollinger mine waste offers ‘game-changing cash flow potential’
Mineralized tailings from the historic Hollinger mine in Timmins could be an easy-to-reach cash box for STLLR Gold. The Toronto gold company is sitting on 50 million to 60 million tonnes of mine waste material dumped on the surface from the former underground mine that could potentially finance its Tower Gold Project, east of the city.
In a recent investor presentation, the company considers the Hollinger tailings site as a project with “game-changing, near-term, cash flow potential” that could be developed fairly cheaply in providing feed for nearby mills in the Timmins area with excess processing capacity.
The company has been drilling on the brownfield site, southeast of the city, in running a “characterization program” that’s offering some “promising results.” With 75 per cent of the assay results in, Keyvan Salehi, STLLR’s president-CEO, said in a news release this week that they’ve observed “consistent gold mineralization” across the property with some spots showing high gold grades.
For the rest of this article: https://www.northernontariobusiness.com/industry-news/mining/recycling-gold-tailings-could-be-a-money-machine-for-mining-company-10821938