Drilling, feasibility studies continue at big gold find

After a flurry of excitement earlier this year, things are quiet around the Cortez Hills 75 miles southwest of Elko in central Nevada site of what appears to be one of the most significant gold discoveries in years.

But more news may be just over the horizon.

Placer Dome Inc., the 60 percent owner and the operator of the Cortez Hills Joint Venture, has been conducting more drilling on the property and has begun working up feasibility studies to mine the deposit last estimated to contain about 7.5 million ounces of gold.

(Kennecott Minerals owns the other 40 percent of the property.) Placer Dome has said it plans to release updates on its exploration by the end of this month or early in 2005.

In the meantime, small mining companies such as Miranda Gold,Greencastle

Resources and Reno-based Bullion River continue to scurry to nail down claims as close as possible to the Cortez Hills discovery.