Despite the challenge of mining gold at a profit, the high gold price continues to keep the hunt for the yellow metal in high gear. Here are a few examples.
EXALL RESOURCES of Toronto reports that it has intersected 21.68 g/t Au over 11.11 metres at its Gold Eagle property in Red Lake, Ontario. This assay came from about 1,200 metres deep in the Bruce Channel discovery. Exall continues to drill at the former producer. (www.Exall.com)
WESDOME GOLD MINES is working at its Kiena gold project near Val d'Or, Quebec. The company has been establishing drifts for definition drilling and hopes to reopen the former mine. It is testing the VC, 388 and Martin zones with varying degrees of success. (www.WesdomeGoldMines.com)
Nevada remains a prime hunting ground for Vancouver-based PLACER DOME. It has begun drilling on the BMX property in the northern end of the Battle Mountain/Eureka gold trend, and may earn a 70% interest from NEVADA PACIFIC GOLD, also of Vancouver. Placer Dome has also signed an exploration agreement with X-CAL RESOURCES of Vancouver that would see it earn a 51% interest in X-Cal's Reese River Pediment properties in Lander Country. (www.PlacerDome.com)
Also last week, Placer Dome said it will go ahead with two underground gold mine developments. In Nevada, the Cortez Hills project (Placer Dome 60% and KENNECOTT MINERALS 40%) got the nod, and in Australia the Wallaby project at the Granny Smith mine was approved.
One thing these programs have in common is that they are in areas of past and current gold production. The gold is there, but much work remains before it can be recovered.
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