Issue link: http://resourceworld.uberflip.com/i/318453
j u n e / j u l y 2 0 1 4 www.resourceworld.com 7 The direct and indirect positive economic impact of mining is substantial. For exam- ple, employment in metals mining alone stood at 12,200 in February 2014, accord- ing to the Nevada Mining Association. Mining as a gross domestic product stood at $6.9 billion for 2012, the latest figure available. The figure for 2013 will prob- ably be lower as gold-focused operators and explorers in Nevada were hit hard following the yellow metal's fall in H1 2013. The economic headwinds have led to retrenched exploration budgets for 2014 and, for some, the divestment of non-core assets. However, Pilot Gold's most recent drill- ing and exploration results have excited both investors and analysts. Its latest results include infill hole PK137C, which returned 21.3 g/t gold over 29 metres . So like one of the grizzled prospectors of 150 years ago, Nevada's mining sector might take a few bruises here and there, but it dusts itself off and then gets on with being one of the best. Allied Nevada Gold Corp. [ANV-TSX] operates the Hycroft gold-silver mine near Winnemucca. It recently reported prelimi- nary Q1 production of 60,114 oz gold and 412,506 oz silver, which compares with 38,019 oz gold and 188,000 oz silver for Q1 2013. Increased mining capacity and improvements to the heap leach opera- tion over the past few years were cited as instrumental in boosting performance. For full-year 2013, the company sold 181,941 oz gold and 858,073 oz silver. On April 23 it reported the sale of its Hasbrouck and Three Hills gold properties to West Kirkland Mining for $20 million (see below). American Vanadium Corp. [AVC- TSXV] holds the Gibellini vanadium project, central Nevada, from which it hopes to produce vanadium electrolyte for CellCube energy storage systems. It also aims to produce vanadium products for the steel and alloying industries. On April 23, the company announced it is partnering with New York State Energy Research and Development Authority to demonstrate a CellCube system that will be hosted at a Metropolitan Transportation Authority facility in downtown Manhattan. Barrick Gold Corp. [ABX-TSX, NYSE] divested its 33% stake in the Marigold Mine to Silver Standard Resources Inc. [SSO-TSX; SSRI-NASDAQ] on April 4 for a cash consideration of $86 million. Barrick's share of production at Marigold stood at 55,000 oz gold for 2013. Other Nevada-based operations include Bald Mountain, with 94,000 oz gold produced over 2013; Cortez, with 1.34 million oz gold; Goldstrike, 892,000 oz gold; Round Mountain (50% stake), 156,000 oz gold; Ruby Hill, 91,000 oz gold; and Turquoise Ridge (75% stake), 167,000 oz gold. The company's exploratory work is currently centred on Nevada, with particular focus on the Goldrush gold project. Canamex Resources Corp. [CSQ-TSXV] is developing the Nevada Bruner gold project in Nye County. On April 7, the com- pany released an exploration update. Hole B-1401C intersected only weak mineraliza- tion, outside the main gold-bearing zone, while hole B-1402C was drilled at the same site, although on a different orientation in order to intersect the mineralized zone at a higher level. Hole B-1403C was drilled in same location but at a shallower angle. Two other holes are planned for the project's his- toric resource area. Columbus Gold Corp. [CGT-TSXV; CBGDF-OTC Pink] is planning a fall drilling program on its 100%-owned Eastside gold project 20 miles west of Tonopah and is in the process of permitting a road building program and 180 drill stations, which would allow the drilling of up to 300 holes. Drilling is designed to expand the better grade West and East zones, particularly up-dip and to the south. Columbus is currently mapping the 17.9 square mile claim block and begin- ning geochemical sampling of altered areas. Eastside has outstanding infrastructure; the project lies 6 miles north of highway US-95 by a well maintained gravel road, and near water sources. A major power transmission line passes through the claim block. Comstock Mining Inc. [LODE-NYSE MKT] operates the Lucerne gold-silver mine, which has two main resource zones: Lucerne and Dayton in Storey County and Lyon County, respectively. The company poured over 4,500 oz gold and 50,000 oz silver in Q1 compared with 2,261 oz gold and 15,599 oz silver for Q1 2013. On March 11, Comstock announced year-end 2013 production, the first full year of oper- ations, with 17,739 oz gold and 186,482 oz silver reported. Production is expected to ramp up in 2014, with the company's business plan estimating 40,000 gold equivalent ounces for the year. Corvus Gold Inc. [KOR-TSX; CORVF- OTCQX] announced the latest results for its 2014 Phase 1 drill campaign on the North Bullfrog gold project on April 3. The holes were drilled at the Yellowjacket and West Vein target areas, with Hole NB-14-377 returning 2.04 g/t gold and 8.23 g/t silver from 122.5-133.7 metres. Other successes include hole NB-14-378, which intersected 18 g/t gold and 260 g/t silver from 83.4- 92.6 metres. Phase 1 work continues. On May 1, Corvus Gold reported extend- ing the strike length of the West Vein Zone. Hole NB-14-384 intersected 14 metres grad- ing 6 g/t gold and 72 g/t silver. NB-14-380 in the Lower Vein returned 13 metres of 5.6 g/t gold and 94 g/t silver and, in the Upper Vein, 17 metres of 1.2 g/t gold and 38 g/t silver. General Moly Inc. [GMO-TSX; NYSE MKT] is advancing the fully permitted Mt. Hope molybdenum project in Eureka County. It holds an 80% stake in the proj- ect, with South Korean steelmaker, Posco, holding the remainder. General Moly unveiled a new economic update for Mt. Hope in December 2013, with an optional Exploring Nevada by Simon Rees T LEFT: Suraj Ahuja, PGeo, Director, Nevada Sunrise Gold, left, and John Cleary, CPG, Consulting Geologist, examine the Golden Arrow property located in the Nevada high desert, approximately 40 miles east of Tonopah, Nye County. Photo courtesy Nevada Sunrise Gold Corp.