SSR Mining spends $3M on North Sask. joint gold venture

·1 min read

Saskatchewan's only active gold miner is showing increased interest in a new exploration project in the far northeast.

SSR Mining Inc., which owns the Seabee gold mine northeast of La Ronge, has earmarked an additional $3 million for the nearby Fisher gold project and formed a joint venture with its owner, Taiga Gold Corp.

The Vancouver-based miner has now spent roughly $15 million on the project to date, and will own an 80 per cent interest in it.

In a news release, Taiga CEO Tim Termuende called the news a "major milestone."

The Fisher property covers roughly 34,000 hectares and is located approximately 125 kilometres northeast of La Ronge. It also borders the Seabee gold operation on the north, south and east.

The news follows an uptick of interest in Saskatchewan gold after junior miners celebrated a bump in prices last year.

Taiga spokesman Mike Labach noted the speedy turnaround on the investment. After SSR gained a 60 per cent interest in the project last November, it had a year to increase its stake to 80 per cent, but made the decision well before the deadline, Labach said.

The move "speaks for itself" and acts as a "vote of confidence," he added.

SSR Mining didn't respond to a request for comment.

Nick Pearce, Local Journalism Initiative Reporter, The StarPhoenix