Construction of its Murray/ Brook gold and silver mine in New Brunswick could begin as early as May of next year, says the president of Northumberland Mines.
Dr William Young says, thanks in part to financial assistance from the federal government, the Murray Brook mine, which contains 1.7 million tons grading 0.0371 oz gold and 1.49 oz silver per ton, could be producing within a year at an annual rate of 12,000 oz gold and 250,000 oz silver. 2 Young says the company is getting Ottawa’s assistance in the form of loan insurance on a portion of the total capital costs of $5.4 million for the planned mining complex, which is located 45 miles west of Bathurst.
He says the company’s financing arrangements for the project are nearing completion.
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