Core from the Goliath gold project in northwest Ontario. (Credit: Treasury Metals)
ONTARIO – Treasury Metals of Toronto has begun work on the feasibility study for its Goliath gold project 20 km east of Dryden. The new study follows the preliminary economic assessment that was updated in April 2017. Work also continues on environmental permitting for the project.
Treasury has hired Sedgman, the mineral processing division of CIMIC Group to head up the study. Treasury added that unspecified independent experts will also contribute to the study. Release of the study is targeted for the third quarter of 2018.
The feasibility study will include the April resource estimate plus the results of the current 30,000-metre drill program and others done recently. The deposit was estimated in 2015 to contain 20.6 million measured and indicated tonnes grading 1.69 g/t gold and containing 1.1 million oz. The inferred resource is 3.5 million tonnes at 2.96 g/t gold and containing 330,000 oz. About 88% of the measured and indicated resource is suitable for open pit mining.
To view further details about the Goliath gold project, visit www.TreasuryMetals.com.