Friday, 23rd November 2007 (1741 views)

Exploration targets are currently being developed for the Rosebud gold mine in accordance with known gold mineralisation from historic drill holes on the site, it has emerged.

An internal study to determine future development strategies at the mine site is nearing completion, according to Harvest Gold.

The company is currently working to assess the historic mining area's potential as a multimillion ounce gold resource. It is also conducting a range of onsite geochemical surveys on underexplored areas of the property to determine the extent of potential gold mineralisation.

A resource estimate produced for the site in 1996 showed that the site was thought to contain 500,441 ounces of gold. Between 1997 and 2007, mining operations recovered 385,450 ounces of gold from the site.

However, the results from a soil survey conducted during summer 2007 indicated that there is potential to extend the gold resources northwest and east of the current historical site.

The Rosebud mining project in north-west Nevada consists of 54 claims, which cover around 1,115 acres of land.

 

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