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Swiss refiner Metalor to stop processing artisanal gold

Section: Daily Dispatches

By Peter Hobson
Monday, June 17, 2019

LONDON -- Switzerland's Metalor, one of the world's biggest gold refineries, said today it would work only with gold from large industrial mines in order to reduce the risk of illegality in its supply chain.

Informal methods of gold production, known as "artisanal" or small-scale mining, have grown rapidly in recent years as demand for gold has boomed, pushing prices higher.

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Crystal Lake Mining's Discovery Team Outlines
Chachi Corridor Copper-Gold Target At Newmont Lake Project

Company Announcement
Wednesday, June 12, 2019

VANCOUVER, British Columbia, Canada -- Crystal Lake Mining Corp, (TSXV: CLM; OTC: SIOCF; FSE: SOG-FF) announces that a large copper-gold porphyry target area, with high-grade gold potential, has been outlined on the eastern side of the company's Newmont Lake Project in northwest British Columbia's Eskay Camp.

The northeast trending Chachi Corridor along the McLymont fault system has a current strike length of greater than 8 kilometers by 3 kilometers wide as defined by an extensive review of historic data including rocks, soils, and geophysics. The entire corridor, which features astonishing glacial retreat, is notably underexplored and will be one of several primary areas of focus for the 2019 summer exploration program, now underway.

The Chachi Corridor begins approximately 6 kilometers northeast of the historic Northwest Gold zone and 20 kilometers northeast of Crystal Lake's recent drilling discovery at Burgundy Ridge, underscoring both the scale and potential of the entire 430-square-kilometer Newmont Lake Project located in the heart of the Golden Triangle. ...

For the remainder of the announcement:

Artisanal mining provides a livelihood to millions of people, often in poorer countries in South America, Africa and Asia. But it often leaks chemicals into rocks, soil, and rivers, working conditions can be appalling, and the gold such mining yields is often smuggled or used to launder money.

Metalor said it would stop working with artisanal mines or collectors and aggregators -- companies that collect and resell gold from artisanal mines -- because of the difficulty of ascertaining the mines' legality and the origin of the gold. ...

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