Gold Mining Rebirth in Nova Scotia - Gainesville Coins News
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Gold Mining Rebirth in Nova Scotia

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Gold Mining Rebirth in Nova Scotia

As technology improves, resources become more scarce, and market dynamics change, the gold mining industry will continue to undergo minor transformations that reflect an evolving business model for major miners.

In the Canadian province of Nova Scotia, this means thinking of creative solutions to get the most out of a historically gold-rich region.

The Cream Rises?

Like any industrial mining operation, once a gold mine is exhausted, that's usually the end of the story. (Aside from ensuring it doesn't become an environmental hazard, as infamously happened with the disaster at the King Gold Mine in Colorado.)

However, spent underground gold mining projects are now begetting a wave of new gold mining projects that are essentially the secondary fruits of that original labor. A number of mining operations have sprung up in Nova Scotia, especially along the Moose River, that take advantage of easier-to-access surface deposits rather than digging deep beneath the ground for more gold ore.

As reported by CoinWorldthere has been a shift in this area of Nova Scotia from traditionally mining deposits beneath the earth to simply maximizing their recovery on the surface:

"Geologists for the mining concerns are pursuing tiny specks of the metal from the folds of what they refer to as “host” rock that held the quartz, instead of infiltrating the quartz veins that characterize gold mines underground."

This process, though in certain ways more cumbersome and certainly less efficient, is less costly than traditional mining. The rocky surface ore is pulverized and chemically processed to extract the remaining gold—which turns out to be quite a lot! In one case, a mine run by Atlantic Gold Corp. is projected to recover some 87,000 ounces of gold this year.

 

The opinions and forecasts herein are provided solely for informational purposes, and should not be used or construed as an offer, solicitation, or recommendation to buy or sell any product.

About the Author

Everett Millman

Everett Millman

Analyst, Commodities and Finance
Managing Editor

Everett has been the head content writer and market analyst at Gainesville Coins since 2013. He has a background in History and is deeply interested in how gold and silver have historically fit into the financial system.

In addition to blogging, Everett's work has been featured in CoinWeek, Advisor Perspectives, Wealth Management, Activist Post, and has been referenced by the Washington Post.

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