Drilling on the Railroad property in Nevada’s Carlin trend has led to the discovery of six prospects for partners Kinross Gold (K-T) and Mirandor Exploration (MIQ-M).
Five of the prospects were mineralized in gold, the sixth, in zinc.
Results included: 15.2 metres (27.4-42.6 metres) of 1.1 grams gold per tonne; 1.5 metres (18.3-19.8 metres) of 6.17 grams gold; and 4.6 metres (83.8-88.4 metres) of 2.59% zinc.
The Railroad property comprises 600 patented and unpatented claims and about 39 sq. km of private land adjacent to, and south of, Newmont Gold’s Rain gold mine. In addition to the newly discovered mineralization, the property contains 15 past producers, three gold zones and one polymetallic zone.
Kinross can earn a 50% interest in the property from Mirandor by spending US$7 million on exploration over four years. It can acquire an additional 10% interest by spending US$5 million on a positive feasibility study.
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