In a joint venture with Canyon Resources (CYNR-Q), Homestake Mining (HM-N) is funding all the expenditures necessary to advance the Mountain View gold project through to a positive feasibility study.
In doing so, the major is earning a 51% interest in the project, situated in northwestern Nevada.
The results of Homestake’s exploration have confirmed the high-grade, gold-bearing zone previously discovered by Canyon. The company also identified other gold-mineralized areas on the property.
Exploration, including drilling, is ongoing, and geophysical surveys are also planned.
In western Nevada, Canyon operates mines through its industrial minerals subsidiary. The division produces and markets diatomite, which is used in paints and coatings, plastics, asphalt coatings and other industrial applications.
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