A private equity group has given mining company Thunder Mountain Gold a letter of intent for an investment of $18 million into the South Mountain Mine, in a story from the Idaho Press-Tribune. The mine is located in Owyee County, which is in southwest Idaho.
The company will be extracting gold, silver and other valuable minerals from the mine, focusing primarily on silver. According to the company, the mine could yield anywhere from 5 million ounces of silver, to 50 million.
There is still a ways to go before operation can begin. There are samples to be taken and, of course, government permits to obtain. The process could take three to five years.
When the mine does open, between 25 and 100 people could be employed.
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