NEVADA & THE WESTERN STATES — Kinross and Mirandor strike gold at Railroad

A discovery hole and the exploration potential of the Railroad gold property in Nevada have heartened partners Kinross Gold (K-T) and Mirandor Exploration (MIQ-M).

A technical report by Kinross, which is earning a 55% interest in the property, notes that the main target is hosted in rocks of the prolific Carlin gold trend. The discovery hole, so far the only hole drilled in the property’s Bald Mountain fault, returned 70 ft. of 0.11 oz. gold per ton. The hole is 3,000 ft. southwest of the property’s POD deposit but is not believed to be associated with it.

Bald Mountain is described as a high-angle cross-fault that strikes east-west and intersects the Bald Mountain intrusive. This intrusive hosts the Bunker Hill gold-copper occurrence.

To earn its interest, Kinross must spend $7 million on the property. By spending an additional $5 million on a positive feasibility study, the company can increase its interest to 65%.

Results from recent drilling at the POD and East Jasperoid zones, which the company shares equally with Brex Exploration (BX-M), have been reported.

Hole 37 produced the best results: 25 ft. grading 0.267 oz., plus 10 ft. of 0.545 oz. Other results include: 30 ft. grading 0.017 oz.; 35 ft. of 0.032 oz.; and 35 ft. of 0.026 oz.

Results from drilling at the POD zone confirms continuity of mineralization, the company says.

Concurrent drilling at the East Jasperoid-RC zone returned 25 ft. of 0.02 oz. gold and 35 ft. of 0.035 oz., plus 5 ft. grading 0.115 oz.

Preliminary exploration in an area Mirandor calls the NW trend also continued.