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Monday, 14th February 2005 (3856 views)

The historic gold-producing regions of the American West are reportedly being revisited as gold prices continue to climb to around $420 an ounce.<br/><br/>"In the past year, mining claims have just about doubled," Greg Visconty, the area mining geologist for three national forests in northeastern Oregon, told The Associated Press.<br/><br/>Mr Viscounty said that, of 4,000 claims in the area, about 250 of them active. He added that some people were mining to make a living, while others "just enjoy" it.<br/><br/>"Interest increased when the price hit $400 and looks like it will stay there," he explained. "That seems to be the make-or-break point." He added that, with the increasing sophistication of technology, the 'fines' (dust) were proving more lucrative than before.<br/><br/>A modern operation can show a profit at around 0.08 of an ounce of gold per ton of ore.<br/><br/>Ground not known as gold-bearing 40 years ago is readily identifiable as such today, said Russell Fields, president of the Nevada Mining Association.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=13008583"/>

 

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