Gold puts the glitter in Pele Mountain's eyes

 

High gold prices has swayed diamond-uranium-base metal explorer Pele Mountain Resources to take a second look at its dormant gold project near the Hemlo camp in northwestern Ontario.

In a March 19 release, the Toronto junior miner said it has re-activated its Highland project in response to a robust gold market. After conducting some field work last fall, the company plans to do follow-up exploration this season with the aim of outlining "near-term mineable resources."

The Highland project covers more than 10,000 hectares and is located 100 kilometres southeast of Hemlo toward the Island Gold Mine operated by Richmont Mines. The Michipicoten Greenstone Belt has hosted several past producing mines, including the one-million ounce Renable Mine. Pele has been acquiring mining claims over the past 12 years into forming up one of the area's largest holdings.

Company president Al Shefsky calls upcoming work on the Highland project their "second front" that shouldn't compromise their primary focus on advancing their flagship Eco-Ridge uranium project toward development and production at Elliot Lake.