Gold News

Historic gold mine prepares for re-opening

Gold exploration and mining company Q-Gold this week announced successful completion of a key stage in renovating a historic gold mine near Ontario, Canada.

The reconstruction of Foley Gold Mine's north shaft collar and attendant support buildings was successfully carried out by Paul Whelan Mining Contractors, said Q-Gold.

Foley Mine, situated within 32,000 acres of gold mining claims and leases owned by the company, has been out of use since the 1890s, when fire destroyed its mine and mill structures.

Before the fire, the mine yielded over 5,000 ounces of gold, a quantity motivating the search to get it functioning once again.

A key problem in reconstruction work is the flooding which afflicted the mine in the 1930s. Mining contractors are now in the process of installing the pumps and piping necessary to suck water out, as a prelude to underground exploration of the site.

Q-Gold obtained the Foley Mine and surrounding properties in 2005, and hopes that the similar geological characteristics there will allow it to emulate the success of the Red Lake and Kirkland Lake gold camps, which it claims have together produced around 47 million ounces of gold to date.


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