GOLD: Governments invest in Yukon placer mining

YUKON – The federal and territorial governments have pledged to fund $440,000 over two years towards a research and testing program aimed at increasing gold recovery rates from placer operations. Minister of Environment, Minister of the...

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YUKON – The federal and territorial governments have pledged to fund $440,000 over two years towards a research and testing program aimed at increasing gold recovery rates from placer operations. Minister of Environment, Minister of the Canadian Northern Economic Development Agency (CanNor), and Minister for the Arctic Council, Leona Aglukkaq, made the announcement in Whitehorse on Aug. 8.

Said Minister Aglukkaq, "Small scale mining operations, including placer mines, are important contributors to the Yukon economy and this innovative research has the potential to create more jobs and economic opportunities in the mining sector."

Placer gold mining in the Yukon began with the Klondike gold rush of 1898. Today the industry contributes more than $50 million a year to the local economy.

Low cost, improved gold recovery will not only boost the profitability of existing placer operations but perhaps make previously uneconomic gravels profitable to mine.

For more information on Canada's northern strategy, visit NorthernStrategy.ca/index-eng.asp.

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