Canadian Mining Journal


GOLD: Treasury Metals advances Goliath project

ONTARIO – Toronto-based Treasury Metals is hoping to make a positive construction decision for its Goliath gold project 20 km east of Dryden by Q3 2018. In the meantime the company will execute a comprehensive program to reach that goal.

Phase one of condemnation and step-out drilling at the Goliath project.

The updated Goliath preliminary economic assessment is due in early March 2017. It will include the 2015 mineral resource estimate along with current operating and capital cost information.

Exploration will proceed in two phases. Phase one is 5,000 metres of condemnation and step-out drilling to test near surface targets along strike to the northeast of the main resource area. Phase two includes 30,000 metres underground infill drilling to begin in mid-May. A new 43-101 resource estimate incorporating the results of the 2016 drill program and this year’s two phases will be produced shortly after.

Treasury Metals plans to begin work on the Goliath feasibility study in August 2017, with completion due in June 2018, and incorporating the updated resource estimate as well as additional engineering, optimization work, metallurgical and grinding tests, and geotechnical studies in support of planned earthworks.

The company submitted its draft information request responses as part of the federal environmental review process in February, and engagement is underway with the local aboriginal communities.

The Goliath gold project is an amalgamation of two historic properties – the Thunder Lake property purchased from Teck and Corona Gold, and the Laramide property, transferred to Treasury from Laramide Resources upon the company’s spin-out in 2008.

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