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15 Gold properties & 1 Molybdenum resource - Beardmore & Geraldton, N/W Ontario.

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Message: Thunder Bay Local News

Thunder Bay Local News

posted on Nov 21, 2007 01:57PM

Greenstone area looking forward to mining resurgence 

11/21/2007 4:42:06 PM
 

It was known as the Greenstone Gold belt and if recent announcements are any indication, that title may still ring true. This week Roxmark Mines Limited announced the company is planning to re-open the Northern Empire Mine in Beardmore next year. In the coming months, the company proceed with all the necessary steps, including mine planning, permitting and employee training.

Roxmark President Monir Younan says it is difficult at this time to determine how many jobs would become available but he estimates up to 125 positions at the revived site. Younan says the Northern Empire mine is unique because it has existing infrastructure. Because of that he is estimating $8-10 million in capital upgrades before the mine can re-open. Roxmark's currently owns at least ten gold properities in the Geraldton- Beardmore area but they are not alone.

More than a handful of companies are in the exploration stages in the municipality. Premier Gold Mines Limited in a joint venture with Roxmark is spending 2.5 million dollars to explore the former Little Long Lac Mine. And both Kodiak Exploration, a BC based company and Sage Gold are also active in the municipality.

This is all positive news says Greenstone Mayor Michael Power, who adds that this is just the beginning, with more announcements expected shortly.

http://www.tbsource.com/Localnews/index.asp?cid=102127

 

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