Mountain West Resources (VSE) has received several unsolicited expressions of interest about its Elkhorn property in Nevada since Homestake Mining dropped its option earlier this year.
Funded by Homestake, Mountain West completed a 31-hole, 8,500-ft drill program at Elkhorn this summer. Nineteen of the holes penetrated the Tourmaline Queen pipe and several good intersections were returned including: 5 ft grading 0.7 oz gold, 10 ft of 0.52 oz, and 5 ft of 0.25 oz. The company says these holes “suggest the presence of a mineable zone of higher grade mineralization in the west-central portion of the pipe.”
Consolidated Goldfields is conducting a feasibility study on a property in the area which it says has “indicated” reserves of 550,000 oz gold. Announcement of its plans has prompted other companies to look at the area.
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