Posts tagged: gold mining
BOISE — A Canadian company is spending millions of dollars exploring for gold deposits in a historic mining district near the tiny mountain town of Yellow Pine.
The exploration activity is taking place in the so-called Stibnite district, located in central Idaho about 50 miles east of McCall. The site produced nearly a million ounces of gold between the 1920s and late 1990s.
The Lewiston Tribune reports that the Midas Gold Corp. acquired control of the district in 2009 and has filed additional mineral claims.
Company officials talked about their exploration project Monday before the House Environment, Energy and Technology Committee.
Company Vice President Anne Labelle told lawmakers a decision has not yet been made if the new deposits are big enough to justify spending millions more on developing a mine.