Thursday, 19th April 2007 (2311 views)

Midway Gold Corporation, a gold and silver mining company, has announced the commencement of drilling in its project in the White Pine County area of Nevada.

The Pan project lies along the prolific Cortez gold trend and phase one of drilling includes 40,000 feet of reverse circulation drilling. This is designed to expand on the near surface oxide resource discovered in 2005.

New higher grades are being predicted.

Alan Branham, the president and chief executive officer, said: "We are pleased to expand our exploration program in Nevada to include the Pan project.

"The Pan project allows us to add a large Carlin type sediment hosted gold deposit to our portfolio on the prolific Cortez Gold trend."

The measured and indicated resources currently stands at 18.96 million tonnes at a grade of 0.019 ounces of gold per tonne, which means a total of 661,400 ounces of gold is in the mine.

The company now has three expanding gold projects in Nevada, the other two are called Spring Valley and Midway.

 

« Back to Gold News stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.