New examination from deposits taken from a bore hole in Iceland show that suspected gold deposits in the area are greater than was initially estimated.
While gold deposits already recovered from drilling done in the Þormóðsdal area of Mosfellsbær showed very promising results, RÚV now reports that there may be enough gold to start production.
Research on the deposits, conducted by North Atlantic Mining Associates Ltd (NAMA), has found more gold than was suspected earlier this year.
“The grade is high enough,” NAMA managing director Vilhjálmur Þór Vilhjálmsson told reporters, referring to the quantity of pure gold in the ore. “Now we have to find out if there’s a large enough quantity [to begin mining production].”
While the news is encouraging to NAMA, Vilhjálmur says more research will have to be done before gold mining can begin in Iceland.