WITH the worldwide price of gold through the roof, is it now the time to start mining Crediton gold?
Yes, there’s gold in them thar hills – but could it mean that Crediton will soon be the next Klondike!
Gold has been found in the South West for centuries, but never in large enough quantities to support profitable extraction.
In 1997 mining company, Crediton Minerals, found grains of gold at secret locations west of the town.
After yields proved promising, it test drilled in the Crediton Trough, a 45km-long and 12km wide valley.
At the time, the firm’s chairman, Jeremy Metcalfe, said: “We may be in sight of a gold deposit of substance.
“We have found very elevated levels of gold, quite unique, and this has to be taken seriously.”
He added that the firm was “greatly encouraged by what we have found.”
When Channel 4 filmed about the discovery of gold in Crediton in 1997. AQ 0716 (Alan Quick, Crediton Courier)
While some local people saw a bonanza in prospect, others were concerned about the potential environmental impact of any mining operation.
At the time Linda Lever of Mid Devon Green Party, said: “People are likely to be seduced by the thought of wealth suddenly, but I don’t think it will be a question of a large company coming in and causing all sorts of havoc.”
Mr Metcalfe said it was too early to know what sort of mining method might eventually be used, but a full environmental impact study would be done.
He confirmed: “We shall be conducting our work in an environmentally-friendly way as possible, and eventually hope that mining will bring jobs and prosperity to the area.”
Dr Richard Scrivener, who then lived locally was then the firm’s exploration contractor, working on behalf of the British Geological Survey.
He said: “Essentially we are looking at native gold occurring in grains. It is a very considerable enrichment. The indications are we have free metallic gold present in the rock.”
Gold was found by panning in streams and rivers in the Newton St Cyres area the British Geological Survey revealed. AQ 0900 (Alan Quick, Crediton Courier)
Shares in Crediton Minerals were sold at the time and many local people invested.
Margaret Tucker of Crediton said this week: “I hope that now is the time to start mining and then all of us that bought shares will see a return on our investments.”
Crediton Minerals parent company was then Minmet, later becoming part of Tiger Resources.
The geology of the Crediton Trough is said to be similar to areas in Queensland in Australia, Germany and Central Europe, where gold is mined.