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.
Nevada Gold Corp has acquired an option to earn a 75 percent interest in a former producing high grade silver, lead and gold mine located in Northern Nevada. This property known as 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 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). The 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.
Nevada Gold Corp is now poised to enter Nevada’s newest gold rush. Nevada Gold Corps also optioned a 2,400 acre exploration target located in Northern Nevada's Long Canyon Trend where Newmont Mines recently bought out Frontier Gold and AUE Ventures for $2.3 Billion Dollars.To date, Nevada State has produced over 200 million ounces of gold with Nevada accounting for almost 84% of the US’s annual gold production.
New Project - Nevada Long Canyon
The Long Canyon Trend is Nevada’s most recent discovery in a gold mining boom that started in 1981. The State of Nevada is responsible for over 80% of the gold production in the Untied States. This mining friendly State is the fourth largest gold producing area in the world, behind Australia, South Africa and China.
In February of 2011 Newmont Mining Corp surprised the mining community when they announced their intentions to acquire a Long Canyon Trend exploration company named Fronteer Gold, for approximately $2.3 Billion.
With gold prices back on the rise, Nevada State is once again booming, thanks in part to the Long Canyon Trend discovery.
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