News

February 08, 2010

Scotgold Resources Aims To Be Producing Scottish Gold Next Year

By Charles Wyatt

It has been about as bad a winter as it gets in Scotland, but even so Chris Sangster, chief executive of ASX-listed Scotgold Resources, did not use it as an excuse to slide off down to the sunshine of Cape Town for Indaba. In fact when Minews tracked him down he was at a meeting in Edinburgh to do with the 1,760 page planning permission document that the company needs, and laying the ground for a bit of marketing now that Scottish investors are waking up, at last, to the potential of gold in Scotland. They’ll have their chance to buy in the UK, as an Aim listing is now planned. If they had woken earlier Chris would not have had to list his company on the ASX, but better late than never. A little history should have alerted them, as gold was discovered at Crawford Moor in the reign of James IV, and records for 1511, 1512 and 1513 show working mines in the region. There was also a gold rush at Kildonan, north of Inverness, in 1818 when alluvial gold was found in the river Helmsdale. So there’s nothing new about gold in Scotland.

Scotgold’s Grampian gold project is some 90 kilometres to the northwest of Glasgow, and covers the large tectonic block known as the Grampian Highlands, bounded by the Great Glen Fault to the northwest and the Highland Boundary Fault to the southeast. This terrain is a direct continuation of the Dalradian gold province of Northern Ireland which hosts Curraghinalt and its 600,000 ounces of gold, and the operating open pit mine at Cavanacaw. Within the south west Grampian Highlands is the Tyndrum...