By Dave Lord

A REMOTE Perthshire village could be set for a new gold rush—more than 200 years after prospectors last descended on the area.

It emerged last night that as much as £70 million of gold and silver could be hidden away under the hills surrounding Tyndrum.

Scotgold Resources have now applied to the Crown Estate—which owns the rights to any gold—for a licence to lease the site.

The company said the venture, which would create up to 60 jobs, could prove to be an extremely lucrative hidden treasure for Scotland’s jewellery industry.

Metals have not been extracted from Tyndrum since a gold rush in the 19th century, but Scotgold chief executive Chris Sangster insists there could be as much as 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 within the next two years.

One potential fly in the ointment could be the need for approval from Loch Lomond and the Trossachs National Park Authority, in which the land lies.

Nevertheless, Mr Sangster is upbeat about his firm’s chances.

“We feel there is a premier market out there because Scottish gold is very rare,” he said.

“We are investigating selling the gold to a partner so that jewellery could be manufactured in the surrounding area.

“We believe this is something the local community will be supportive of.”

Ross McLellan, one of the firm’s directors, added, “We know there are recognised gold deposits at the hills of Tyndrum. Our plan is to extract them in as environmentally friendly a way as possible. We want to have the greenest gold mine in the world.”

He added that the project would be in the interests of not just the local community but the whole of Scotland.

“Scotland already has whisky and some of the greatest golf courses in the world,” he said.

“This gives us the opportunity for another excellent brand, Scottish gold.”

Diane Mailer, who runs a guest house in Tyndrum, had a mixed reaction to the plans.

“I am not that keen on it from an environmental point of view because it is a nice, quiet, green area with remnants of the Caledonian pine forests,” she said.

“I fear these proposals could mean a lot of heavy traffic, which will devastate that peace and quiet.

“Having said that I am in the guest house industry and it would probably encourage more people to come to the area.”

John Riley—chairman of the Strathfillan Community Council, whose area includes Tyndrum—says locals are broadly in favour of the plans.

“We suffer from the cyclical nature of tourism, so are very interested in the prospect of a gold mine, which could give skilled employment all year round,” Mr Riley said.

“Our main proviso is that it takes into account the environment.

“The company must be responsible for making it look reasonable. We don’t want a major gash in the countryside, so it must blend in,” Mr Riley added.