Drilling at the Marigold gold project in Nevada, south of the East Hill deposit, indicates potential for additional heap leach reserves, Rayrock Yellowknife Resources (TSE) reports.
The company, which recently announced its intention to boost its interest in the mining operation through the purchase of a partner’s interest, says follow-up drilling is planned for that area this year.
(Rayrock is buying the one-third interest of Placer Dome U.S.; the third partner is Corona Gold. Corona has the option of participating in the purchase; if it does, Rayrock and Corona will each have a 50% interest in the operation.
(Earlier this year, Rayrock, Corona and Placer Dome acquired the Marigold interest of a fourth partner, to each own 33.3% of Marigold.) During the first quarter of 1992, Rayrock recorded gold production from its various property interests of 11,976 oz.
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