One of the Ontario gold juniors on this list plans to use Primero Mining’s Black Fox-Stock mill on a toll-milling basis
Northern Miner | May 20, 2017: Ontario is a hot spot for gold exploration in Canada, as it hosts several of the country’s large historic gold camps. According to Fraser Institute’s annual Survey of Mining Companies 2016, Ontario ranked as the sixth best jurisdiction for investment attractiveness in Canada and globally came in 18th place. Here’s a review of four gold projects, three of which are Ontario gold juniors, set to start production within the next two years:
Sage Gold (TSXV: SGX) is lining up to become the newest producer in Timmins, Ont., with first production at its 100%-owned Clavos gold deposit expected in late 2017.
“We are hoping that by the end of September to start shipping mineralized material to the mill,” Sage’s CEO Nigel Lees says, adding commercial production should begin in the first half of 2018.
Before commercial production kicks off, Sage plans to complete dewatering and rehabilitating the former mine by year-end, update the resource estimate, and finish a prefeasibility study.
Sage has recently wrapped up 2,900 metres of surface drilling, which established a mineralized corridor between Clavos’ main mine zone and the 960 zone. It now intends to finish 9,200 metres of definition and exploration drilling from underground.
[Editor’s Note: Included on this list could be Treasury Metals Inc. (TSX: TML). A 2017 Preliminary Economics Assessment (PEA) shows life of mine gold production of 1.142 million ounces at an average head grade of 3.81 grams per tonne (g/t) gold. All in sustaining costs are estimated at just US$611 an ounce. Goliath’s existing infrastructure (road access, power lines, and a Canadian Pacific Rail terminal at the nearby city of Dryden) and low initial CAPEX estimated at C$130 million makes it appealing to potential suitors.]
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