Equinox Resources (TSE) and Cominco Resources International (TSE) are amending their Buckhorn joint venture to allow Equinox to test the property’s potential for deep-seated gold mineralization.
Equinox and Cominco hold 23.56% and 76.44% interests respectively in the now-closed Nevada mine.
Equinox can boost its interest to 65% by completing US$2.5 million in exploration before Dec. 31, 1996, including a minimum of US$300,000 in 1993. Since opening in 1983, Buckhorn has produced about 300,000 oz. gold from a number of surface deposits. Reclamation is nearly complete, though releaching continues to produce gold.
While releaching and reclamation continue, Equinox will test for large gold deposits below known surface deposits.
Buckhorn covers about 52 square miles. It is east of the Cortez mine and the Pipeline discovery of Placer Dome and Kennecott.
Be the first to comment on "Equinox plans deep exploration"