Thursday, 24th January 2008 (1849 views)

Arizona-based mine developer Western Sierra Mining has signed a joint venture agreement with the owners of the Gold Basin placer mine, the company has announced.

Under the deal, Western Sierra will undertake a two-phase development programme to return the site to production then build it into a commercially viable operation.

Phase one will involve the improvement of current infrastructure to enable small scale production. This is expected to be completed by the end of March 2008.

Under phase two, the mine will be expanded and gold recovery operations will be enlarged. Commercial scale production is expected to start by the end of the first half of the year.

The Gold Basin placer mine, which is located near Prescott, Arizona, about 100 miles north of Phoenix, has estimated reserves of 200,000 ounces of gold.

Western Sierra specialises in developing low-cost mining operations in or around the Sierra Nevada mountain chain, an area that extends from Idaho to the central plains of Northern Mexico.

 

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