Gold production from Nevada Goldfields’ Kingston mine near Reno, Nev., helped boost profits for the first half of fiscal 1988 to $1,968,844 on sales of $9,480,328.
The company sold 20,787 oz gold and 49,070 oz silver in the 24 weeks from June 30 to Dec 12. The Kingston mine, a joint venture with New Beginnings, opened in March.
Nevada Goldfields added a second gold producer to its ranks early in December with start-up of the Aurora mine in Mineral Cty., Nev. The Aurora mine is expected to add 20,000 oz gold annually to the company’s production.
At the Kingston mine, two major projects are nearing completion. A raise-drilled borehole from the mine portal to the bottom of the Victorine Canyon will be used as an ore pass, eliminating about 1.25 miles of steep mountain road haulage. In the mill, two more leach tanks are being added to increase leach time and improve recoveries.
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