Silver price surge revives Nord’s Gowganda tailings near Cobalt

Surging silver prices have renewed commercial interest in historic mining tailings, with Nord Precious Metals outlining 2.81 million ounces of indicated silver at its Gowganda project in northeastern Ontario. The updated resource covers 1.85 million tonnes grading 47.4 grams of silver per tonne across historical deposits left behind during Ontario's early 20th-century mining boom. The viability of the project is being driven by strong commodity tailwinds, with spot silver trading around $64.80 per ounce—representing an increase of approximately 50% compared to year-ago levels. Nord's resource cutoff model assumes a silver price of $65 per ounce, alongside estimated operating costs of $17 per tonne and an expected metallurgical recovery rate of roughly 82%. Nord aims to advance engineering, metallurgical testing, and environmental permitting to generate operational cash flow from tailings reprocessing, which will fund further exploration across its broader Cobalt-Gowganda district holdings. Broad commodity strength was evident across precious metals, with silver futures advancing over 7% to $75.495 per ounce.