In 1984 a
gold-bearing
quartz vein was discovered by the Irish firm Ennex International on the lower south-eastern slopes of Beinn Chùirn just above Cononish Farm at Eas Anie. The company spent over £250,000 doing test drillings and were hopeful that the mine would be very productive. The gold, which is the most important deposit found in Scotland so far, occurs as minute particles inside
pyrite and
galena which in turn occur in the quartz vein. Despite claims that there are up to a million tonnes of ore present on the site which could produce five tonnes of gold and about 25 tonnes of silver, the location was only developed briefly in the 1990s when an adit (tunnel) of approximately 1,280 metres was driven into the hillside. In 1994, the Caledonian Mining Company acquired the mineral exploration concession with the intention of putting it into production; however, the falling price of gold meant that such a small deposit was uneconomic at the time. Higher gold prices in 2007 have led to renewed activity with Scotgold Resources of Perth, Western Australia, purchasing the mineral exploration concession and applying to extend the lease and start gold production within two years, for a period of eight years. To date there has been no gold production or bulk trial testing and projected output figures are based only on geochemical assay from borehole cores and samples from the tunnel. However, permission to commence commercial gold production has now been granted by the
Crown Estate, which owns the rights to all gold in the UK excluding
Sutherland, and by the Loch Lomond and the Trossachs National Park. Furthermore, tests have been successful and an estimated £170 million worth (of which £65 million is tax-exempt) of precious metals are in the site. The mining would commence over a ten-year period and at least fifty jobs would be created. The company Scotgold are considering the local area as well, because some of the money will go to the local community to help develop a visitor and heritage centre. They are also taking into account that the initial mine structure, set up in the 1980s and '90s, is within a national park, meaning they are considering the possible complications that this may bring. See "The Environmental Impacts of the Cononish Mine" section for further details. == Lead mining ==