Tuesday, 22nd March 2005 (2932 views)

US mining company Galaxy Minerals has announced it has acquired the Bonanza Gold project in Arizona.

The project has a potential of 0.33 ounces of gold per tonne and 50 million tonnes of ore to be processed.

According to a statement from the company, the project could hold potential reserves of up to 16 million ounces of gold.

The project is situated in an area that also houses the multi-million ounce Mesquite, Picacho and Copperstone gold mines.

Galaxy Minerals is based in Florida, and has mines and exploratory properties in Arizona and Peru.

 

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