Kenosha Kid
Sr. Member
Saw this in the Kenosha News ~
Ancient Deposit Might Hold $168 Million In Gold
Posted: March 7, 2011
WAUSAU, Wis. -- A Canadian mining company hopes to strike it rich in Marathon County of central Wisconsin.
An ancient gold deposit in the Town of Easton might hold as much as $168 million in gold.
The newspaper said Aquila Resources has notified the state it will apply to do exploratory drilling.
Another company explored there in the 1980s. Ann Coakley, the Department of Natural Resources' director of waste and materials management, said gold prices back then were too low given the small size of the deposit. Gold sold then for about $350 an ounce; it now goes for more than $1,400.
William Cordua, a professor of mineralogy at the University of Wisconsin-River Falls, said the high price for gold has some companies taking second looks at deposits that had been dismissed.
Ancient Deposit Might Hold $168 Million In Gold
Posted: March 7, 2011
WAUSAU, Wis. -- A Canadian mining company hopes to strike it rich in Marathon County of central Wisconsin.
An ancient gold deposit in the Town of Easton might hold as much as $168 million in gold.
The newspaper said Aquila Resources has notified the state it will apply to do exploratory drilling.
Another company explored there in the 1980s. Ann Coakley, the Department of Natural Resources' director of waste and materials management, said gold prices back then were too low given the small size of the deposit. Gold sold then for about $350 an ounce; it now goes for more than $1,400.
William Cordua, a professor of mineralogy at the University of Wisconsin-River Falls, said the high price for gold has some companies taking second looks at deposits that had been dismissed.
