Treasury Metals gears up for mining with new CEO

Treasury Metals has tapped a new president with mining and milling experience to lead its Goliath Gold Project toward eventual commercial production.

Chris Stewart, a former vice-president of operations at Kirkland Lake and a 24-year mining veteran, was appointed Treasury’s new president and CEO, effective Dec. 5.

He replaces Martin Walter, who resigned last June to pursue the CEO’s job at Vena Resources.

In a June 3 news release,Treasury chairman Marc Henderson was delighted with the choice given Stewart’s involvement with a “highly successful operational turnaround” at Kirkland Lake Gold.

“His experience includes both the construction and operation of significant gold and base metal mining projects here in Ontario as well as deep experience from the contracting perspective, which should be invaluable when the company enters into financing and construction discussions later in 2017.”

The Goliath Gold Project, just east of Dryden, is currently in the mine permit stage and with a feasibility study for an open-pit and underground mine expected to get underway in early 2017.

The company’s project timelines indicate commercial production will begin in late 2018, early 2019.

Initially, an open-pit gold mine will feed a 2,500-per-day processing plant before operations shift underground in the latter years of the mine life.

In a statement, Stewart expressed excitement with the opportunity to lead the build a team that will construct a “brand new mine” in the northwest.

“The team has done a great job advancing the project to where it is today and my expertise is well suited to move the company through the final stages of development and ultimately into gold production.”

Stewart was also president-CEO of Liberty Mines from 2011 to 2013, was project manager-shafts for BHP Billiton's Jansen Project in Saskatoon from 2010 to 2011, and served as vice-president of operations for Lake Shore Gold Corporation involved in shaft sinking at the new Timmins Mine and refurbishment of the mill at the Bell Creek Mine.