Colomac Mine
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The Colomac Mine was an open pit gold mine in the Northwest Territories that operated between 1990-1992, and 1994-1997. It was operated by Peggy Witte, whose first company Neptune Resources Limited had little success in making a profitable operation. In 1994 the mine reopened by her other company, Royal Oak Mines Incorporated. Low gold prices forced Royal Oak into bankruptcy and the mine was reverted to the federal government of Canada. A major cleanup effort is underway to prevent the mine from polluting the environment.
The Colomac Mine processed a total of 12,294,352 tons of ore to produce 535,708 troy ounces (16,662 kg) of gold.
Location:Latitude: 64 Degrees 12 Minutes (North) Longitude: 116 Degrees 1 Minutes (West)
On April 2007, Indian and Northern Affairs Canada has engaged Deloitte & Touche LLP as its agent to solicit expression of interest with respect to the acquisition of the Colomac Gold Mine, NWT. The Key highlights of this opportunity was:
- Approximately 6.6 million tonnes of indicated resources
- Gold processing mill and related equipment
- Maintenance building
- Dorm-room style camp complex
- Power and fuel storage facilities
- Mobile equipment including rock trucks, excavators and loaders
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