MINING REFINING

Kinross begins drilling at Riley’s PWC Gold Project in Nevada

Thu July 11 2024

Kinross Gold U.S.A., a subsidiary of Kinross Gold Corporation, has initiated drilling operations at the PWC in Nevada’s Cortez District, following an exploration agreement with Riley Gold. The exploration and venture option agreement was signed in March this year, which allowed Kinross to earn up to a 75% interest in the PWC by investing a minimum of $20m.

Spanning around 24.7km² in Lander County, the PWC is situated in a region renowned for significant gold production. Kinross, which holds a 9.9% equity stake in Riley Gold via a private placement, is both funding and operating the PWC.

The drilling campaign aims to explore previously untested favourable lower plate carbonate host rocks within the Wenban and Roberts Mountains Formations, which are known to be prolific gold hosts in the district.

Wenban Formation is notably the primary host for all major gold deposits in the Cortez District, each containing more than five million ounces of gold.

Source: https://www.mining-technology.com/