Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Talisker Resources (TSX: TSK) is beginning the engineering and amended permitting process to allow output at its Bralorne Gold project to operate at 1,500 t/d rather than the currently permitted 100 t/d. The expanded production would come from within the existing permitted mine boundary from underground sources.
This announcement marks a change in Talisker’s plans, which were originally to truck the ore offsite and have it processed at an existing mill.
“As we near the end of our drill program and build our resource base for Bralorne, the expansion and amendment of our mine permit lays the future pathway for a robust 100,000 ounce per year producer,” CEO Terry Harbort said in a release.
Talisker has begun discussions with the BC Ministry of Energy, Mines and Low Carbon Innovation to amend the existing mine permit. The formal review is expected to get underway shortly.
The current mine permit was granted in 2017 and includes a tailings storage facility, mill site plus surface and underground infrastructure. The annual ore treatment limit is 36,500 tonnes. A separate permit under the Environmental Management Act covers the management, treatment and discharge of water from the site.
The land on which the Bralorne project sits is part of the traditional territory of the Bridge River Indian Ban (Xwísten), a member of the St’át’imc nations. Talisker has an exploration agreement the Xwísten, and Talisker is working with them toward an impact benefit agreement.
The three historic mines of the Bralorne mine complex – Bralorne, Pioneer and King – produced a total of 4.2 million oz. gold from ore with a recovered grade of 17.7 g/t gold until production ceased in 1971.
The measured and indicated resource is 235,820 tonnes grading 0.123 g/t gold for 91,000 oz. contained gold. The inferred resource is 827,520 tonnes grading 7.92 g/t for 78,000 oz. contained gold.
(This article first appeared in the Canadian Mining Journal)
