Exploration in Nevada remains active, primarily because a number of established mining companies are continuing to explore ground held near existing mine operations.
One of the higher-profile exploration projects not in this category was the Rosebud project operated by a unit of LAC Minerals (TSE) in northwestern Nevada. Impressive drilling results are being reported from ground held 51% by LAC and 49% by Equinox Resources (TSE), and from adjacent ground held 100% by LAC.
USMX (NASDAQ) discovered new reserves at its Yankee gold project 65 miles northwest of Ely, Nev., part of the large Alligator Ridge land package. The company hopes to bring this heap leach target (1.9 million tons grading 0.05 oz. gold per ton) on stream later this year.
On its own, or with joint venture partners, Crown Resources is one of the most active juniors in the western U.S. today. The company is currently exploring the Cord Ranch gold property in Nevada’s Carlin Trend, and the Kings Canyon gold project in neighboring Utah. Both are still in relatively early stages of exploration.
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