VANCOUVER
Crown Resources (TSE) has expanded its Latin American gold acquisition program into northern Peru.
e company has applied for exploration and mining concessions in 10 areas, the most prospective of which covers 150,000 acres in the centre of the emerging Yanacocha district.
The Yanacocha mine, operated by Newmont Mining, contains about 7.3 million ounces gold in eight deposits and is expected to produce 225,000 oz. per year initially. The 150,000-acre property adjoins Newmont’s ground to the south and abuts on three other projects on its northern boundary.
The nine other prospects are northwest and southeast of Yanacocha, along a regional trend.
Crown expects to begin surface exploration before October.
Meanwhile, at the company’s Crown Jewel project in Washington state, an environmental impact statement is expected in the first quarter of 1994. The document was expected in August, but more time was needed to complete the comprehensive studies required for permitting.
Battle Mountain Gold (NYSE) is earning 51% in the open-pit project by bringing it into production at a minimum rate of 3,000 tons per day.
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