A US$23-million underground exploration program has been announced by Homestake (NYSE) for gold showings three miles north of the company’s mine near Lead, S.D. Gold mineralization has been found at a depth of more than one mile by surface drilling, the company said.
Plans call for the driving of an exploration drift from the 6,800-ft. level of the existing mine to the showings. The project is expected to take up to five years to complete.
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