Recent drilling results from the Yankee project have owner USMX (NASDAQ) predicting an extension to the mine’s life.
The discovery is within the Yankee project near Ely, Nev., about two miles from the company’s recently commissioned Yankee open pit, heap leach mine. The mine is currently operating at a rate of about 600,000 tons per year at an average grade of about 0.045 oz. gold.
The new deposit, dubbed the Monitor, is similar to the other deposits on the property in that it is hosted in a structurally controlled, oxidized and silicified pilot shale.
Limits of the new deposit have not been defined, although USMX believes it will add one year of life to the Yankee operation.
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