Officials say a new gold mine on Nevada´s rich Carlin Trend could produce as much as 180,000 ounces of the precious metal annually.
Idaho-based Hecla Mining Company and Great Basin Gold in Vancouver yesterday announced a $22-million joint project on Great Basin´s Ivanhoe property east of Midas in northeastern Nevada.
Great Basin president Ronald Thiessen says the project has all the ingredients for success – including lots of gold. The mine also is projected to produce 920,000 ounces of silver a year and should be operational by 2005.
The announcement is good news for Nevada´s mining industry, which has suffered in recent years with some Nevada mines closing because of falling prices. But gold has been on a rebound in recent months, rising from a low of near $250 an ounce to more than $325 an ounce this month.