RE:Sudbury mining camp Maybe Greg will borrow the sorter from GWA until things get going in Timmins MacDonald Mines Exploration has signed an agreement with Environmental Tailings Corp. (ETC) to reclaim left over tailings processed from the former Scadding Mine at the SPJ Project.
The gold junior is transferring 64 hectares of land to the private company for $1 but will retain the mineral and mining rights. MacDonald receives a four per cent net smelter return from the sale of any metals extracted from the tailings.
Environmental Tailings will resell the lease back to MacDonald for $1 once the tailings have processed and site has been remediated.
The tailings were part of the leases that MacDonald Mines picked up in April 2019. Milling on the property was done between 1987 and 1990. A total of 140,000 tonnes were processed at a grade of 7.22 grams per tonne.
Company president Greg Romain said in a statement that the agreement with ETC will complete the required closure plan for the tailings site while also allowing his company to benefit from any metal recoveries from the tailings.
“This transactions helps the company preserve cash while ensuring our focus and efforts remain on exploration our SPJ Project. Furthermore, it confirms our commitment as a company to clean up any historical workings which is supported by the Government of Ontario.”