Tuesday, 22nd January 2008 (1782 views)

Midway Gold has applied for permits to be issued to allow further exploration at its Midway Project in Nevada, the company has said.

The aim of the exploration is to convert 77 high-grade veins discovered by previous drilling into reserves and determine the grade of other deposits in the Midway, Rochefort and Dauntless veins.

A plan of operations for a 3,000 ft decline has been submitted to the Bureau of Land Management and the Nevada Division of Environmental Protection.

Gold recovered from bulk samples taken from the area will be used to offset some of the development costs.

If the exploration leads to underground mining, the company expects to reach the discovery gold zone in late 2009. It says the project has the potential to create 30 jobs for the area.

Midway Gold president and chief executive Alan Branham said: "The actual date of beginning the decline will depend upon the length of time it takes to achieve regulatory approval, which typically takes eight to 18 months."

According to the firm, Midway's Nevada projects to date have resulted in gold discoveries of over 1.2 million ounces.

 

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