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Monday, 30th June 2008 (1557 views)

A British gold mine is set to be reopened by Scotgold Resources, according to the Guardian.

The Cononish mine is located near Tyndrum, Scotland and has not been open for nearly ten years.

Scotgold Resources expects to find at least 154,000 ounces of gold at the site, the newspaper said.

"As soon as a drill rig we have been waiting for arrives we'll be under way," said Chris Sangster, chief executive of Scotgold Resources.

"We need to expand the resource a bit more to see exactly what we've got and then there are the requisite planning and other hurdles to go through."

The Guardian said work at the mine will provide at least 60 jobs in the area for the next eight years even if only the minimum amount of gold is found.

John Burton, a farmer who owns the land the mine is in, said it would be a "relief" to have the mine open again.

Scotgold Resources expects 4,000 metres of drilling to be conducted at the site across three areas.

 

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