Scotgold Resources, the company developing a gold mine near Tyndrum, said today that it had uncovered new areas of interest to explore in the area.
The company has been carrying out tests to evaluate different various exploration techniques at the Cononish project where it is hoping to start production in the final quarter of this year.
As part of the work, soil sampling has identified “new zones of interest for possible extensions to the Cononish orebody”.
Scotgold said the work had also highlighted the nearby Beinn Udlaidh area as a prospective gold target “with much greater clarity” and is now planning further tests.
Richard Gray, chief executive of Scotgold, said: "It is very encouraging that what was in effect a calibration exercise has already identified new targets within the test area over the Cononish deposit and we look forward to what our exploration team can discover using these new techniques over our much larger Grampian Project area in the coming years.
“The company's expectation for the Cononish mine to become cash positive in 2020 will accelerate these exploration programs and facilitate our stated strategy of building a pipeline of projects in Scotland."
