New Highland Gold Rush

SCOTLAND could experience a new gold rush after a company revealed plans to mine for the precious metal in the Highlands.

Scotgold Resources believes there is gold and silver worth as much as Pounds 70million in the hills around the village of Tyndrum, Perthshire. It has applied to the Crown Estate, which owns the rights to the gold, for a licence to lease the site for a venture creating up to 60 jobs.

Metals have not been extracted from Tyndrum since a gold rush in the 19th century. Scotgold chief executive Chris Sangster said there was thought to be about 191,000 ounces of gold and 998,000 ounces of silver in the area at Cononish mine.

He added that, if the Crown Estate granted permission, the business could be up and running in two years. The company also needs approval from Loch Lomond and the Trossachs National Park Authority.

John Riley, chairman of Strathfillan Community Council, said: We suffer from the cyclical nature of tourism, so we are very interested in the prospect of a gold mine.

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