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Wednesday, 6th April 2005 (4117 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.<br/><br/>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.<br/><br/>Through the deal operating costs and revenues will be shared equally.<br/><br/>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.<br/><br/>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.<br/><br/>Reno Gold is a precious metals mining, exploration and development company and was set up in June 2004.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=8208707"/>

 

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