Thursday, 15th September 2005 (2734 views)

Placer Dome has approved the development of its Cortez Hills gold project, a property it has a 60 per cent stake in.

The Cortez Joint Venture property is located in Nevada, approximately 80 miles southwest of Elko.

Placer Dome proposes to develop both the Cortez Hills and the Pediment deposits.

However, construction will not be able to commence until a permit and joint venture partner approval have been secured.

President and chief executive officer, Peter Tomsett, described Cortex Hill as an "exciting opportunity" and went on to call it "a high-value project".

An underground exploration decline will be taking place on the Cortez property and is expected to commence immediately.

The decline will enable more effective exploration of underground targets, confirm grade and continuity of existing mineral resources through closer-spaced drilling, and determine applicable mining methods, reports the company.

Placer Dome has also approved another project; Wallaby is on the Granny Smith mine in Western Australia.

 

« 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.