The president and CEO of Spokane-based Goldrich Mining Co. says the company has been able to begin work at its central Alaska mine earlier than expected due to warmer-than-normal temperatures.
Goldrich’s partner—Goldrich NyacAU Placer LLC—started mining its Chandalar gold project three weeks ahead of its normal mid-June production season start, says William Schara.
“Being able to start mining early when, in a whole year, you typically only get about 92 days … that’s pretty substantial,” Schara says.
Goldrich Placer expects to stockpile “pay” gravel, blast, and process additional mineralized material, and continue development of a new wash plant this year, Schara says. Work likely will continue there until early September.
Placer mining, as it’s called, is the mining of stream bed—alluvial deposits—for minerals, Schara says.
Since 2012, Schara says, Goldrich Placer has invested $24 million in the Chandalar mine project. The mine, located just outside Chandalar, Alaska, is approximately 200 miles north of Fairbanks.
Goldrich Mining and Goldrich Placer formed a joint venture to mine various placer deposits that occur throughout the company’s 23,000-acre mine, Schara says.
Subscribe today to our free E-Newsletters!SUBSCRIBE