Silver price surge revives Nord’s Gowganda tailings near Cobalt

AI desk brief

Nord Precious Metals outlined 2.81Moz of indicated silver in historical tailings at its Gowganda project in Ontario, saying elevated silver prices are making old mine waste economic again. The estimate covers 1.85Mt grading 47.4g/t silver across the Main and South tailings and two smaller outflow areas, with spot silver around US$64.80/oz versus a US$65/oz resource cut-off assumption.

The company said it is advancing engineering, metallurgy and permitting for a planned mineral recovery permit, with CEO Frank Basa targeting future cash flow from tailings to fund exploration across the district. Nord shares rose 3% to C$0.17; the article also notes silver briefly hit a record US$121.60 in January before retracing.