Wednesday, 6th April 2005 (2648 views)

Reno Gold and Nevada Precious Metals have announced a new joint venture to help reduce costs at their adjacent mines in Washoe County, Nevada.

The deal will see the eight claims of both companies put together, meaning 16 claims of 320 acres will now be owned by both firms.

Through the deal operating costs and revenues will be shared equally.

Analysis has suggested that the ore body surrounding Reno Gold's Winnemucca Dry Lake Bed site could include precious metals, including gold, which would all be economically recoverable.

Since the sites are next to one another the firms felt it made sense to create joint venture, which would override the benefits of pursuing the developments separately.

Reno Gold is a precious metals mining, exploration and development company and was set up in June 2004.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.