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Canadian firm to renew gold mining in Kremnica

Canadian company Tournigan Gold Corporation (TGC) based in Vancouver plans to renew gold mining around Kremnica. Over the next three years, the firm will decide based on geological research and the movement of world gold prices whether to run a business in Kremnica.

TGC has acquired Kremnica Gold, owned by Canadian company Argosy Mining Corp for about Sk14 million (€330,000). The deal has brought potential gold deposits with estimated yield of over 1 million ounces of gold to TGC.

Head of Tournigan Hein Polus refused to specify how much money he would invest in Slovakia before the geologists evaluate the deposits.

Gold mining has a long tradition in the Kremnica region. Mining started here already in 1300 and was maintained until 1971. The mining activities finally ceased in the 1990s.

Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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