Posted by John Borst on Apr 12, 2017
2020 is the year the Treasury Metals Gold and Silver mine is projected to go into production mine Vice-President Norm Bush told the Dryden Rotary club at the April 12th meeting.
 
Bush, also a member of the club, shared highlights from the updated Preliminary Economic Assessment of the Goliath Mine, a prime property in the Treasury Metals stable. Located just east of the Dryden border and west of Wabigoon village the mine is currently transitioning from exploration to development.
 
 
Treasury Metals is a high-grade deposit of over 4 grams per tonne of gold with an estimated 1.4 million ounces yield.  If no new ore is found, the mine will have a lifespan of 13 years.
 
The location is unique as most of the infrastructure is in place. A transnational highway, electricity line, railway, and natural gas pipeline are all close by resulting in a low cost to bring online.
 
The property was originally explored by Teck and then sold to Laramide. Treasury Metals was spun off from Laramide in 2008.
 
The company has done 3 Preliminary Economic Assessments since 2008 and submitting more information to CEA for permitting. Presently, looks like 1/3 of mining will be open pit and 2/3 will be underground. Since 2008, Treasury Metals has drilled over 140,000 exploration holes and spent over $60 million. The plan is to mine the three open pit high-grade chutes first so that cash flow can then help finance underground portion. It will now cost $133 million for above ground portion and $132 for underground operation
 
Bush said, "Safety, Environment and People are the three core values of the company". All water will be treated before sending back into the environment. There will be a small processing plant on site
 
See also the Treasury Metals CEO being interviewed at https://www.youtube.com/watch?v=RM1qdOzkSE4
 
 

norm bush's presentation to dryden rotary

 
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