Drilling at the Railroad gold property in Nevada’s Carlin trend has returned encouraging results for partners Exploration Mirandor (MIQ-M) and Kinross Gold (K-T).
Six holes drilled in the Elliot Ranch area cut wide zones of near-surface, low-grade gold mineralization. Intervals varied from 1.5 to 41.1 metres and averaged between 0.55 and 1.78 grams per tonne. Hole 6 intersected the narrowest gold-bearing interval, which averaged 1.47 grams gold. Hole 2 cut the widest: 41.1 metres averaging 0.62 gram.
Kinross, in managing the program, is earning a 50% interest in the property from Mirandor. The former is required to spend a total of US$7 million (T.N.M., July 20-26/98).
The Railroad property encompasses 15 past producers in a Carlin window of lower-plate sedimentary rocks outcropping along an anticline structure. Previous drilling returned up to 21.81 grams gold over 3 metres.
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