A 70,000-ft. drill program will attempt to identify additional reserves at the Briggs gold mine of Canyon Resources (CAU-X) in California’s Panamint Valley.
The mine, which entered production last year, is expected to reach its design capacity of 6,000-6,500 oz. gold per month this spring, by which time it will have achieved its annual rate of 75,000 oz.
The current drill program is aimed at increasing production at the mine as well as extending its life. The company also hopes to discover deposits that can be developed as separate mines in the Panamint gold district.
Three rigs are testing areas north and south of the mining permit, where partially defined gold resources have been outlined. The program will also test early-stage prospects. Previous reconnaissance exploration in the district identified several targets, all of which host known gold mineralization.
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