Nevada gold operations have long been a production cornerstone for Rayrock Yellowknife Resources (RAY-T). But with some of those mines running out of ore, the company is planning to step up the pace of its exploration activities near existing projects.
Rayrock’s Dee mine, in the Carlin trend, is being placed on care and maintenance because of low gold prices and high operating costs. That open-pit operation is expected to turn out about 25,000 oz. gold this year before operations are suspended.
Rayrock also owns 66.7% of the Marigold open-pit mine, a milling and heap-leach operation. Last year, the mine processed about 2.9 million tons of oxide ore and produced about 74,000 oz. gold. Rayrock plans to further explore the property this year.
Rayrock operates and owns 35% of the new Daisy gold mine in southwestern Nevada, a joint-Venture with 65% owner Inter-Rock Gold (IRO-T). About 28,000 oz. are expected to be produced at Daisy this year.
Last year, Rayrock’s share of gold production was 104,217 oz., up from 95,128 oz. in 1995. Operating costs increased slightly to US$310 per oz., from $301 per oz. in 1995.
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