STLLR Gold has a better picture of how much gold is inside the former Hollinger Mine’s tailings pile in Timmins, should the company have serious designs on generating some quick cash from mine waste.
The Toronto gold company, formerly known as Moneta Gold, released a mineral estimate on Nov. 25 of its exploratory findings on the tailings that were dumped from the legendary mine, once was considered the largest gold mine in the world.
To STLLR, digging into a century’s worth of mineralized mine waste presents an opportunity to self-finance its other mining ventures in a record-setting gold price market, while remediating an environmental legacy site.
STLLR’s main focus in northeastern Ontario is its Tower Gold Project, potentially an open-pit mine located 100 kilometres east of Timmins, in the Matheson area.
The Hollinger tailings contain 412,000 ounces of gold in the indicated category, inside of 36.2 million tonnes, at a grade of 0.35 grams per tonne. On the inferred side, there are 93,000 ounces within 7.7 million tonnes, at a grade of 0.37 grams per tonne.
Indicated and inferred resources are used in mining vernacular to classify deposits based on level of geological confidence. Indicated resources have the higher degree of certainty.
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