Mining News: News Nuggets: Chandalar placer gold mine nears start

Goldrich Mining Co. Aug. 17 reported that placer gold operations at the Chandalar project in northern Alaska are expected to start this month. Overburden removal at the project began in March and through June crews had stripped 780,000 yards. Operations were expected to start earlier in the summer, but construction of ponds and completion of the wash plant has taken longer than projected. Subject to weather at the arctic project, the plant is expected to run through mid-September. The Chandalar placer mine is being developed and operated by Goldrich NyacAu Placer LLC – a 50-50 joint-venture formed between Goldrich and Alaska placer miner, NyacAU LLC, in 2012. In addition to supplying its placer mining expertise, NyacAU is fronting all the capital needed to get a commercial operation going at Chandalar. Through 2015, some US$27 million has been invested to develop the mine, according to Goldrich Mining’s mid-year financial statement. At full capacity, the recovery plant at Chandalar is expected to process 600 cubic yards of placer material per hour, which will be realized as gravel screens and gold recovery tables are added in stages through 2016. Goldrich NyacAu Placer forecasts this operation will recover more than 130,000 ounces of placer gold over the next five years.

- Shane Lasley