RAPID CITY, S.D. (AP) – A Canadian company says it has secured the funding and land holdings it needs to resume drilling for gold in South Dakota.
Mineral Mountain Resources suspended exploratory drilling in the Black Hills last year. Reports say the Vancouver-based company notified the state Department of Environment and Natural Resources on Monday that it can restart drilling this week.
Last year, the company drilled nine holes to obtain core samples east of Rochford. The state has approved 111 more holes at 10 drilling sites on private land in the Standby Mine area.
Investors pooled about $1.61 million to fund the drilling.
The company announced last week that it solidified land holdings worth $500,000 for the project. The land was purchased from G&D Gold Mining Co.
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