Wednesday, 30th May 2007 (3039 views)

Almost 200 years after it was initially used, Cononish mine in the Scottish Highlands is set to be scoured for gold again, it has been revealed.

The Scotsman reports that Scotgold Resources has bought the gold and silver rights around the mine at Tyndrum for £800,000 from Oak Consortium, a Swiss joint venture.

Furthermore, the newspaper notes that Scotgold believes there to be 191,000 ounces of gold in the region, which combined with the 998,000 that Scotgold also believes the area contains, would be worth around £70 million.

The Scotsman also reveals that Scotgold is additionally planning for Scottish jewellery to be crafted near to the gold mine.

"I think Scottish gold jewellery would be in demand as it's very scarce - there aren't any other mines in Scotland and not enough can be panned," Tracey Neilson, a sales consultant with Goodwins Antiques told the Scotsman.

"We believe it would be at a premium as wealthy Scots living overseas would love a piece."

Tyndrum is a former gold mining centre and its rivers are often frequented by gold panners.

 

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