HomeNewsLatest NewsGold Mines Of Wales Proposes The Reopening Two Mines

Gold Mines Of Wales Proposes The Reopening Two Mines

The UK has to come up with a new strategy to fund two significant projects recently discovered which are worth more than 1 billion.

The UK has to come up with a new strategy to fund two significant projects recently discovered which are worth more than £1 billion.

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Gold Mines of Wales (GMOW) came up with a proposal to resume operations at Clogau mine in the Snowdonia National Park after gold deposits were discovered at the mine.

At the same time, a mineral consulting and exploration company, Erris Resources, raised an amount of £30,000 for the extraction of the high-priced mineral near Loch Tay in Perthshire, Scotland. The whole project is valued at £300 million and its exploration will be the first in the country of the UK for a period of ten years.

In line with the Perthshire scheme, the labour required will also have to undertake major soil sampling inspections and large scale geological mapping.

The chief executive of Erris Resources, David Hall, stated: “Securing these funds from new and existing shareholders is an endorsement of the opportunity that the Loch Tay Project offers.

“The project area is highly prospective and lies within the Grampian Gold Belt, which hosts significant gold deposits. We are delighted to have the opportunity to rapidly develop the Project with this additional funding that will allow us to define drill targets for early testing.”

It is believed that if the two mines resume their operation it will bring back the nation of the UK on the world gold mining map again.

The planning documents of the Gold Mines of Wales stated: “GMOW (Operations) Limited is investigating the feasibility of reopening the Clogau-St David’s Gold Mine and is also assessing the regional scale potential of the Option Agreement area for the potential discovery of new, unmined reserves of gold.”

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Alice Campbell for SurgeZirc UK
Alice Campbell for SurgeZirc UK
Alice Campbell is a highly skilled and experienced royal writer, currently working with SurgeZirc UK. With a passion for journalism and a keen interest in the royal family, Alice has established herself as a prominent figure in the field.
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