NEVADA SPECIAL — Royal Gold looks at Great Basin

Limited exploration into the lower plate of the Roberts Mountain thrust at the NAD claims in central Nevada indicates the possibility of gold mineralization, reports Royal Gold (RGLD-Q).

The property is 4 miles southwest of the Pipeline-South Pipeline complex, owned by the Cortez joint venture.

Royal Gold will drill several geophysical anomalies this summer, at a minimum budget of US$120,000.

Among Royal Gold’s other targets in the Great Basin is the Long Valley property. Situated in eastern California, the deposit contains an estimated 38.7 million tons grading 0.017 oz. gold per ton.

At least 22 million tons of the resource are fully oxidized, and the company has budgeted US$600,000 for further drilling.

Royal will also drill on the Buckhorn South and Signal Peak properties in Eureka Cty., as well as explore a 12.5-sq.-mile area near Pipeline as part of a joint venture with High Desert Mineral Resources (HDR-V).