Two drill rigs are on the scene at Treasury Metals’ Goliath Gold Project to begin a 15,000-metre program at the future northwestern Ontario gold mine.
In a Dec. 16 news release, the Toronto mine developer said part of the program is devoted to infill drilling on the main gold body as well as some step-out work on its 50-square-kilometre property.
The Goliath Gold Project is 20 kilometres east of Dryden, near the village of Wabigoon.
Plans are for an open-pit gold mine, feeding an 2,500-tonne-per-day processing plant, before operations transition underground for the later years of its currently forecasted 13-year mine life.
The company is looking to begin commercial production in 2021.
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On the exploration front, Treasury is checking out a high-grade shoot found 200 metres east of the main resource body to be mined.
The company wants to transfer these resources from the inferred category over to indicated, and add more gold resource blocks into the mine plan for an upcoming preliminary feasibility study.
Other exploration work will test deep targets previously identified through surveying work which the company said holds potential to add more ounces to extend the mine’s longevity.
The rest of the program is dedicated to exploring a gold extension on an 11-kilometre strike and to follow up on some holes drilled on the east side of the property.
Some of the early results from this drill campaign will be posted in January.
When the program concludes, the company said an updated resource estimate will be released as part of a preliminary feasibility study.
To date, the Goliath Project hosts 1,229,800 ounces of measured and indicated gold, and 226,700 ounces in the inferred category.
Treasury has other gold exploration properties such as Weebigee, near Sandy Lake in northwestern Ontario; and Gold Rock, south of Dryden; and Shining-Tree-Fawcett near Gogama in the northeast.
