Gold Terra, the company exploring for gold on property that was once the Con Mine, will hold a town hall meeting at 7pm on Tuesday at the Yellowknife Historical Museum.
While Gold Terra has several properties in the Yellowknife area, the company’s highest-profile venture is drilling beneath the former Con Mine in the hope of one day resuming mining there.
Con Mine, on the city’s southern edge, was a major gold producer until it closed in 2003. Remediation of that mine is almost complete.
For Gold Terra, the key is finding enough gold under Con – or nearby – to justify opening a fresh mine that could use some old Con assets, like the Robertson shaft, which was sunk in the 1970s and extends nearly two kilometres below ground.
According to its public statements to date, the company hasn’t yet reached the tipping point at which a mine becomes a viable prospect.
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Even so, officials associated with Gold Terra say its work at Con represents “one of the few lights on the medium-term horizon” for the NWT economy.
On Tuesday evening, Gold Terra chairman and chief executive Gerald Panneton will run through the company’s activities this year and its next steps. Gold Terra said a recording of the meeting would be published to its website.
“A modern mining approach can play an important role in providing economic benefits for the City of Yellowknife and the Northwest Territories,” Panneton was quoted as saying in a news release.
“We welcome these annual opportunities to engage with local stakeholders and to discuss our ongoing exploration plans and the resulting future benefits to the local economy.”
