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 Hot Stock to Watch |
Company: Nevada Gold Corp (OTCQB: NVGC) |
Last:
Price: 0.495
Change (%): + 0.04 (8.79)
Volume: 2,337,568 |
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About Nevada Gold Corp.
Nevada Gold Corp (OTCQB:NVGC) is a publicly traded US exploration company focused on precious metals targets in the gold rich area of North Eastern Nevada. To date, Nevada State has produced over 200 million ounces of gold with Nevada accounting for almost 84% of the US annual gold production. Most recently the company has a acquired an option to earn a 75 percent interest in the former producing silver/lead and gold mine called the Diamond Jim Mine located in Northern Nevada State.
The Diamond Jim Mine in Elko County consists of 35 claims and is located in northeastern Nevada, 20 miles (32 km) south of the Idaho border, 69 miles (111 km) north of the city of Elko and 260 miles (418 km) northeast of the city of Reno. The Diamond Jim mine was discovered in the late 1860's and went into production in 1934 with commercial production commencing in 1954. The property lies on the easterly end of the northeast-trending Midas trend, one of Nevada's several important epithermal gold belts. The Midas trend hosts a number of significant to world-class gold districts such as Midas-Ken Snyder Mine and the Jerritt Canyon Mine (recently produced its 8 millionth ounce of gold). These mines produce mainly from epithermal vein systems favourable for small but profitable high-grade operations and Carlin-type sediment-hosted deposits amenable to large-scale open-pit bulk mining. Previous "estimated" non-NI 43-101 compliant resources were, in the Company's view substantial, with a grade of 2 ounces of silver per ton. This estimate was defined in 1985 by Columbus Mines Inc.
Nevada Gold Corp plans to conduct an initial surface exploration program as well as seek a permit to reopen the old mine workings to verify previous exploration results. In addition to the Diamond Jim property the company also has an option on another gold property located in Nevada's Long Canyon Gold Trend.
Company Information Sheet
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