GOLDBORO — Signal Gold Inc. – which has been exploring for gold in and around Goldboro since 2017, and recently merged with another Toronto-based mining company – is asking local hunters to be cautious in areas where its trucks are parked near roads until Sunday, Dec. 15.
“Signal Gold will be conducting fieldwork in Goldboro,” the notice said. “The company will also have personnel working on or near roadways, trails and in the forest between Port Bickerton and New Harbour [in] November.”
The bulletin posted to the company’s Facebook site last week is “a common safety precaution while exploring during hunting season,” Signal’s CEO Kevin Bullock told The Journal in an email Nov. 14. “Surface fieldwork, which involves collecting data and samples, and direct observations of a site to assess its geological, mineralogical and environmental characteristics is common practice while exploring for gold.”
The notice is also the latest in a string of recent announcements indicating that company’s plans to develop its Goldboro property for commercialization are on course, he said.
In September, Signal – which received its provincial environmental assessment approval for the Goldboro project in 2022 – accepted the provincial government’s Crown Land Lease and Licence Letter of Offer on 2,265 acres of Crown land in the area.
The following month, the company merged its operations with NexGold Mining Corp., a move that, once finalized in December, will help reduce its – in U.S. funds – from $20 to $12 million. That, Bullock told The Journal at the time, “will give [us] the capacity to move [the Goldboro project] forward with a combined, highly experienced team…. We remain committed.”
Earlier this month (Nov. 5), Signal served notice that it had completed the sale of its Tilt Cove Gold Project in Newfoundland to FireFly Metals Ltd. of Australia for cash and stock worth approximately $3 million.
According to Bullock, the next steps for the Goldboro project include obtaining a Federal Schedule 2 Amendment and Fisheries Offsetting plan, along with provincial industrial approval next year.
The Goldboro Gold Project proposes an approximately 11-year open pit life with average gold production of 100,000 ounces per year.
Signal has estimated it will create between 200 and 350 direct, full-time jobs during mine construction and operations.Alec Bruce, Local Journalism Initiative Reporter
