Archive | Nevada Mining

The silver kings of the Comstock – by Darold Fredricks (San Mateo Daily Journal – November 11, 2013)

https://www.smdailyjournal.com/

Although gold had been taken out of the streams around Virginia City in 1850, it didn’t create much excitement in San Francisco immediately.

The gold tailings were worked when there was water in the streams that ran east from Mount Davidson, a peak from the Virginia Range in western Utah Territory. As more prospecting produced other catches of gold tailings, word spread that there might be a bonanza in the hot and forbidding area. A few took the bait and they left after the gold strike from Coloma panned out and they were left high and dry in San Francisco.

In 1857, Henry Comstock lucked upon an area where he and some others found some gold and silver veins that were promising for riches. Henry acquired the area after the Grosh brothers died before filing claims. Henry took over the cabin and land and enlarged his holdings by claiming more land around the cabin after hearing of a gold strike at Gold Hill. Continue Reading →

Barrick in talks with Newmont to combine Nevada gold operations: sources – by Zandi Shabalala and Clara Denina (Reuters U.S. – November 5, 2018)

https://www.reuters.com/

LONDON (Reuters) – Barrick Gold Corp, which is being formed by Barrick’s (ABX.TO) $6.1 billion takeover of Randgold Resources (RRS.L), is in talks with Newmont Mining (NEM.N) to combine their Nevada gold mining operations, sources told Reuters.

Last month’s tie-up between Barrick and Africa-focused Randgold Resources revived speculation about a joint venture between Newmont and Barrick in Nevada, something the two mining firms had explored in 2014 without reaching a deal.

“They have been trying to negotiate for years but Newmont couldn’t agree with Barrick, now that you have a new management team, it’s certain they revived those talks,” one source said. Continue Reading →

Newmont profit dips alongside gold, copper prices – by Susan Taylor (Reuters U.S. – October 25, 2018)

https://www.reuters.com/

TORONTO (Reuters) – Colorado-based Newmont Mining Corp (NEM.N) reported lower third-quarter profit and revenue on Thursday, as a drop in bullion and copper prices hurt the gold miner’s results.

Newmont had been jockeying for the title of world’s largest gold producer this year, until Barrick Gold (ABX.TO) announced its $6.1 billion deal to buy Randgold Resources (RRS.L) in September.

Newmont would rather focus on improving margins for existing production than pursuing mergers and acquisitions for growth, Chief Executive Gary Goldberg said last month at an annual gold industry gathering in Denver. Continue Reading →

Barrick Gold sees potential to expand Tier 1 assets: Thornton – by Susan Taylor (Reuters U.S. – October 25, 2018)

https://www.reuters.com/

TORONTO (Reuters) – Barrick Gold Corp (ABX.TO) could have nine of the world’s top gold mines in a “relatively short” time under its $6.1 billion acquisition of African miner Randgold Resources Ltd (RRS.L), Barrick Executive Chairman John Thornton said Thursday.

Barrick and Randgold will focus on Tier 1 assets which produce 500,000 ounces of gold annually, have a mine life of more than 10 years and are low cost. The combined company, subject to a Nov. 5 shareholder vote, will have five of the world’s top 10 Tier 1 assets, Thornton said.

“This combination could have as many as nine Tier 1 assets within a relatively short period of time,” he said on a conference call with analysts to discuss quarterly financial results. Continue Reading →

Ex-Barrick band looks for new legacy – by Richard Roberts (Mining Journal – September 25, 2018)

https://www.mining-journal.com/

Armed with an improved understanding of the “stratigraphic complexities … and the importance of low angle structures and their contribution to gold deposition” at Red Hill, NuLegacy’s management team is eager to follow-up recent high-grade drill hits at the Serena target immediately. But it will also continue to drill widely spaced targets elsewhere in a bid to replicate the results and apply its expanded knowledge kit as broadly as possible on the 98sq.km property.

“We will be drilling more holes to follow up on the excellent results in SR18-02 [including 8.7m at 16.9gpt from 283.7m), but that same set-up of structure and stratigraphy can be seen in numerous places on the property,” NuLegacy president and CEO Anderson told Mining Journal.

“So we feel it would be a big mistake to focus on only one area.” Anderson said all junior companies had a geological analogue of what they were looking for. Continue Reading →

Mining through the past: Cambridge student visits Nevada County to research Cornish heritage – by Jennifer Nobles (The Union – September 5, 2018)

The Union

Sebastian Horton has always dreamed of visiting California. Growing up in Penzance, Cornwall, England, he’d imagine a land of sunshine and balmy temperatures, a place where he could surf and skateboard to his heart’s content.

The 22-year-old finally made his California wishes come true, but the purpose for his trip is much more significant than he’d initially imagined.

Horton — a third year student at Cambridge University — is visiting Nevada County in order to conduct extensive research for his dissertation which will be presented in April. The topic of the project will be Cornish mine workers who ascended to positions of social and political influence. Continue Reading →

[Nevada Mining] Mineral extraction pioneer rethinks metallurgy – by Suzanne Featherston (Elko Daily Free Press – September 7, 2018)

https://elkodaily.com/

A pioneer of the state’s cyanide heap-leach technology is now testing a cleaner, zero-waste approach to mineral extraction that could revolutionize the industry.

The process has potential to unlock unrealized resources in previously mined material, and some proponents hope in its ability to extract precious metals from virgin ore.

Testing of an extracting liquid began on previously leached material from Comstock Mining Inc.’s nonactive Lucerne Mine in August 2017. Results a year later show that the technology can reduce cyanide while extracting valuable minerals, including silver and gold. Continue Reading →

Nevada Mine Could Produce 25% of World’s Lithium – by Paul Nelson (KTVN News – August 29, 2018)

http://www.ktvn.com/

The largest known lithium deposit in the United States is in northern Nevada, and a mining company says it has big plans for the property.

The largest known lithium deposit in the United States is in northern Nevada, and a mining company says it has big plans for the property. The high-grade, highly-concentrated mineral is found in the McDermitt Caldera, stretching from Humboldt County into Oregon.

“Chevron started drilling this site out back in the 70s, looking for uranium and they found lithium instead, so it’s a known resource,” Alexi Zawadzki, CEO of Lithium Nevada said. “The McDermitt Caldera is one of the most highly mineralized calderas in the world.”

A prehistoric volcano created the caldera, which turned into a lake. The lithium is in the clay that sat at the bottom of the water. “This was basically the Yellowstone hot spot, which has moved over the last 16 million years to the east and this is a geological artifact of that,” Zawadzki said. Continue Reading →

Nevada: Where the World Goes for Gold (Investing News Network – August 16th, 2018)

Investing News Network

This Investing News Network article is sponsored by Fremont Gold (TSXV:FRE).

Nevada may be one of the most geologically diverse mining jurisdictions in the world. Nearly every type of rock known to geologists can be found in the state’s desert landscape.

Nevada has been an important source of many of the world’s most critical base metals including copper, zinc and molybdenum. Today, Nevada leads the country in the production of lithium and, not surprisingly, the Silver State contains a wealth of precious metals, ranking as one of the top 5 global gold producers.

Nevada owes its unique geology and prolific gold production to the complex tectonic history of the northern Great Basin which gave rise to the widespread landscape of fault-dominated mountain ranges and valleys. Continue Reading →

End of the rainbow: The search for more gold deposits is on – by Suzanne Featherston (Elko Daily Free Press – August 6, 2018)

https://elkodaily.com/

ELKO — Prospect. Claim. Explore. The search for gold in Nevada keeps its allure long after the 1849ers panned gold flecks from the Carson River. A gold discovery can catapult the finder into wealth while helping sustain community economies.

“Big deposits start small,” said Rich Perry, Nevada Division of Minerals administrator. “They begin to unravel the geology of the district. Gold deposits are very geology intensive.”

Whether a prospector searches for gold in unexplored territory or an operator seeks to expand an existing mine, finding unseen riches remains a challenge, a necessity and a thrill. Continue Reading →

Editorial: Are Nevada’s gold mines near the end of the rainbow? (Elko Daily Free Press – August 1, 2018)

https://elkodaily.com/

There’s no doubt that gold drives northeastern Nevada’s economy. Most of us make a living either directly or indirectly on the strength of the mining industry. Often it is hard to tell which direction things are going, so we ask ourselves time and again: How long will it be before our pot of gold at the end of the rainbow is empty?

This summer, Mining Quarterly editor Suzanne Featherston is taking a three-part look at that very question. Her series began two weekends ago with a study of the mining industry’s boom-and-bust past.

That was followed last weekend by an analysis of gold reserves in the state, and how long they are expected to last. And coming this weekend in part three, Featherston looks at the exploration side of mining to see who is searching for gold and where they are finding it. Continue Reading →

End of the rainbow II: Gold reserves in Nevada – by Suzanne Featherston (Elko Daily Free Press – July 29, 2018)

https://elkodaily.com/

ELKO — Production. Resources. Reserves. These are terms that help the mining industry define progress and prospects. Yet even with the best science, neither the past nor educated guesses can predict the exact future of mining.

Commenting about the future of mining is like forecasting the weather, said Nevada Mining Association President Dana Bennett, because so many factors can affect the outcome. With caution, people do analyze the data with the hopes of unearthing the mystery of the potentially profitable industry.

“Gold’s there. I suspect for a long time here in Nevada. It’s just we can’t put a number on it,” said John Dobra, a retired University of Nevada, Reno, professor of economics, specializing in resource and mineral economics. “Experience tells us there is a lot of it out there, and it’s kind of silly to think that we have found it all.” Continue Reading →

End of the rainbow: The future of gold mining in Nevada – by Suzanne Featherston (Elko Free Press – July 21, 2018)

https://elkodaily.com/

ELKO — Boom. Bust. Rush. Crash. These words are associated with the cyclical nature of the world’s minerals extraction industry known for making and breaking companies, economies, towns and fortunes.

Nevada – where mining has existed before statehood — has witnessed these ups and downs over time but now is experiencing a rather rare phenomenon in the mining industry.

“There has been a gold rush in Nevada for close to 50 years,” said John Muntean, an economic geologist and associate professor at the University of Nevada, Reno, who works for the Nevada Bureau of Mines and Geology. Continue Reading →

Barrick Gold has a problem: it is running out of gold – by Niall McGee (Globe and Mail – July 21, 2018)

https://www.theglobeandmail.com/

It’s not just a Barrick problem, either: many major producers have seen their reserves fall dramatically, raising concerns of a supply shock

Gold financier Pierre Lassonde thought it was time to cash in his chips. Thanks to a smart investment in a Nevada gold mine, shares in his royalty company, Franco Nevada, which he ran alongside his buddy Seymour Schulich, had run up from 65 cents a share to $17. By early 1988, Mr. Lassonde was ready to sell the company.

But after talking to the geologist who discovered the mine, he had second thoughts. Brian Meikle told him there was a humongous ore body yet to be exploited. “The discovery of three lifetimes” is how he described it. Similar logic had persuaded Barrick Gold Corp.’s Peter Munk and Bob Smith to buy the property about a year earlier.

That conversation with Mr. Meikle was a defining moment for Mr. Lassonde. He decided to hold on to the company. “[Franco] bought it for $2-million,” he said of the royalty on the mine. “If I had known, I would have bought it personally.” Given the wonderfully apt name Goldstrike, the mine would become one of the biggest in history. Since 1987, it has produced more than 45 million ounces of gold. Franco’s investment has yielded more than a billion dollars. Continue Reading →

New mines accelerated at Barrick’s South Arturo – by Mariaan Webb (MiningWeekly.com – June 27, 2018)

http://www.miningweekly.com/

Development work and construction of the Phase 1 openpit and the El Nino underground mine at Barrick Gold’s South Arturo operation, in Nevada, have been accelerated, setting the stage for some production from both operations later in 2018, partner Premier Gold Mines said on Wednesday.

The Phase 1 project will be the first openpit mine operated by Barrick using autonomous mining equipment, which Premier said would create an opportunity for reduced mining costs and improved safety.

The joint venture (JV), in which Barrick holds 60% and is the operator, has budgeted $90-million for the entire project, with development capital in 2018 amounting to $17-million. Continue Reading →