QUERY Carlin res. has royalty in Elko, Nev. property

A recent article mentioned Carlin Resources (VSE) and the Chandler property, five miles from Weiser, Idaho. I would like to know about the company’s 5% net royalty interest in a new gold mine called the Owyhee joint venture, brought into production by Freeport Exploration. What is the potential production of this mine and where is it located? Is it a heap leach operation? Your Canadian Mines Handbook also says Carlin has an interest in 206 claims in Elko Cty., Nev. How much exploration is going on there now? C.W. Alexandria, Va. A spokesman from Carlin Resources told The Northern Miner that the company has about a one- third portion of a 5% royalty interest held by a subsidiary of Silver Standard Resources (a Teck- controlled junior) in the Tuscarora property near Elko, Nev. This property was staked in 1974 for the Owyhee joint venture (consisting of Silver Standard and several Vancouver-based juniors including Carlin) and subsequently optioned to Freeport Exploration. Independence Mining (formerly Freeport-McMoRan Gold) has not yet placed this proposed open pit, heap leach project into production, although reports are that it is looking to a startup next year at a rate of 1,000 tons per day. The property is near Independence Mining’s Jerritt Canyon mine, and reserves would likely be processed at this facility.

At last report, the Mill Creek zone on the Tuscarora property had millable reserves of 1.48 million tons grading 0.15 oz. gold per ton, with an additional 334,550 tons of heap leachable material grading 0.041 oz.

The company spokesman said Carlin’s key exploration project is its 25% interest in the Chandler property in Idaho, a joint venture with Silver Standard (25% and operator) and two Vancouver-based junior companies which share the remaining 50% interest. This property is being actively explored.