Project Overview

THE STIBNITE GOLD PROJECT

 

Midas Gold and our team of professionals and consultants have studied the  Stibnite Gold Project site for the past decade, searching for minerals, identifying opportunities to work closely with local residents and businesses and creating a plan to use responsible, modern mining to address environmental legacies and add to the economic success of Idaho.

Our plan for the Stibnite Gold Project site is about restoring the site as well as mining it. Redeveloping this already mined area will allow us to earn the money needed for us to properly take care of the environment.

Fish haven’t been able to swim past the historic Yellow Pine pit since 1938, almost no top soil can be found in the area, due to extensive erosion, and millions of tons of sediment are running into the waterways, degrading water quality and fish habitat. Leaching of metals like arsenic and antimony from historic tailings, waste dumps and workings also impact water quality.  Our plan will address these impacts and we’ve designed the project so a lot of the restoration work will occur early on.

We are proud of this project and our team. We remain committed to ensuring that our project takes care of the environment, is safe for our employees and the community and will have a positive long-term impact on Idaho.

We care deeply about Valley County and the people who call it home, including our own employees. For the last ten years, we have been getting to know our community and learning what is most important to the people who call this area home. Community input helped shape our plans and guide our designs to help us create something better than we could have done on our own.

We hope that you will take the time to read our Plan and provide us with your feedback. When the draft Environmental Impact Statement is published by regulators, we hope you will take the time to read it and provide your feedback.

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PROJECT LOCATION

The Stibnite Gold Project is located in the Stibnite Mining District in Valley County, which is approximately 44 air miles northeast of Cascade, Idaho and near Yellow Pine, Idaho.

Environmental Highlights

Mining started at this location in 1899, and the site needs attention and funding to help address environmental legacies impacting water quality and habitat.

The East Fork of the South Fork of the Salmon River currently flows into an abandoned mining pit. The project will restore the natural flow of the river and allow salmon to migrate for the first time in over 80 years.

Millions of tons of historic tailings are impacting water quality today, the project will reprocess and safely store these tailings.

Millions of additional tons of waste rock dumped around the site will be recovered and reused in properly designed locations.

Economic Highlights

The Pre-Feasibility Study in 2014 found:

  • The Stibnite Gold Project has the largest known antimony resource in the US.
  • The project is one of the top 10 gold deposits in the US.
  • We will recover more than 4 million ounces of gold over the 12 years projected for the life-of-mine.
  • Almost $1 billion of initial investment will be required to build the Stibnite Gold Project, with another $200 million invested in Idaho over the life of mine.
  • The high grades, combined with good recoveries and other positive attributes means the Stibnite Gold Project has low operating costs compared with foreign gold operations worldwide.

Financial Support from Key Investors

Midas Gold has a strong community of investors. In addition to many, mostly US-based individuals, our largest institutional investors include Paulson & Co., Barrick Gold, Franco-Nevada, Sun Valley Gold, Franklin Templeton, M&G Investments, and Teck Resources.

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ASK MIDAS: YOUR QUESTIONS ANSWERED

We are here to answer your questions. Email community@midasgoldinc.com to tell us what is on your mind.