ELKO, Nevada Joint Venture partners PLACER DOME of Vancouver (60%) and KENNECOTT EXPLORATIONS of Australia (40%) have made a significant new oxide gold discovery. They are calling it Cortez Hills, and it is located about 12 km southeast of the existing Pipeline-South Pipeline complex and 800 m north of the Pediment deposit.
The partners estimate that the new zone contains 6.77 million t of measured resources at 3.15 g/t Au, 15.57 million t of indicated resources at 2.95 g/t Au, and another 9.46 million t at 3.05 g/t Au classified as inferred. The deposit has a strike length of over 300 m and is approximately 150 m wide, from 120 m below surface to 460 m depth. It is open to the south, east, west and long strike to the northwest.
Cortez Hills is a likely target for development, but it is too early to yet to outline a plan of operations. For more news and complete information on the Cortez gold mine, see www.placerdome.com.