Located near Dryden looks to create 450 jobs
Shortly after the takeover, Treasury initiated a number of programs to advance both the Goliath and Goldlund gold projects. Those activities included:
By Kevin Vincent
source growth potential. We are pleased to have added the Goldlund gold project into our development timeline, and combined with the existing infrastructure in the region, and pending further economic and technical evaluation, it is expected to generate substantial co-development synergies as the properties are further advanced,” added Ferron. The Goliath project consists of the construction, operation, decommissioning, and remediation of an open-pit and underground gold mine and associated infrastructure. The project could create up to 450 jobs during construction and 250 jobs during operations over the life of the mine. The company continues to complete requirements for final authorizations and permits.
· Completion of an economic evaluation of a Goliath plus Goldlund scenario. Technical studies are underway to support this analysis, including plant and processing facilities, mining optimization, and an evaluation of potential operations at Goliath (underground and open pit) combined with Goldlund open pit mining scenarios. Future technical studies are also anticipated to include an optimization of the tailings storage facilities to review potential efficiencies that may be gained from developing the two projects in tandem. Results of this study are anticipated in late 2020. ·The commencement of a 25,000-metre drill program. Drilling at Goldlund will be focused on infill and expansion starting with Zone 1, 4 and 8. At Goliath, drilling will continue to focus on potential expansion of the east C Zone within the resource area in addition to exploration drilling on the prospective regional targets recently identified through IP and soil sample programs. · Environmental baseline collection commenced to assist with the development and permitting activities for Goldlund. Treasury Metals has
Cont’d from pg. 52
$30.4 million capital raising. First Mining entered into an earnin agreement with Auteco on March 12, 2020 whereby Auteco may earn up to an 80% interest in PC Gold Inc., the Company’s wholly-owned subsidiary that owns Pickle Crow. The company also holds a large equity position in Treasury Metals Inc. that is advancing the Goliath-Goldlund gold project towards construction. On June 3, 2020, First Mining
entered into a share purchase agreement with Treasury Metals, pursuant to which Treasury Metals will acquire all of the issued and outstanding shares of Tamaka Gold Corporation, a wholly-owned subsidiary of the company. First Mining’s eastern Canadian property portfolio also includes the Pickle Crow, Cameron, Hope Brook, Duparquet, Duquesne, and Pitt gold projects.
It’s been a busy summer for little-known Treasury Metals. The company released a steady flow of news throughout the middle of 2020, mostly focused on financing and its Goliath Deposit, 20km east of Dryden. The company also announced the successful takeover of the neighbouring Goldlund Deposit, previously owned by Tamaka Gold Corporation. “Completion of this acquisition comes at a transformational time for our shareholders and solidifies the Goliath and Goldlund projects as among the largest undeveloped gold assets in Canada,” said Greg Ferron, CEO of Treasury. “The close proximity of the GoliathGoldlund gold projects create a multi-million ounce, district-scale opportunity with significant re-
from 10,000m to 45,000m, with a 24-person, all-season camp to be established on site to support exploration activities. To date, nineteen drill holes totalling 4,464m have been completed. Assay results and drill highlights will be reported in an upcoming news release. Auteco’s aggressive drill program is fully funded following its recent
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