Revival Of Uranium City Gold Mine A Little Closer
Wednesday, January 23, 2008 at 13:52
Work continues near Uranium City to re-activate an old gold mine that used to be in operation several decades ago.
GLR Resources hopes to bring its Goldfields project into production sometime next year.
Vice-president Malcolm Bucholz explains that gold deposits in the area were initially discovered in 1939 by a prospector, before being bought out by a company.
The Second World War halted production, but GLR is hoping to pick up the pieces.
Bucholz says he believes there could be enough gold to sustain a mine for ten years, based on an estimated deposit of 1,000,000 ounces.
He adds an environmental assessment on the project by the provincial government is nearing completion — and, at last word, the findings were being distributed to surrounding communities.
GLR says both Uranium City and Fond du Lac have already sent in letters of support for the project.
Bucholz notes his group is still trying to figure out how many jobs could be created.