The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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I am stunned by Kinross Gold - Round Mountain GOLD mine with 29 Million oz.
see all others miners
In any jurisdiction other than Nevada, the discovery of Walker Lane would have been the most significant exploration event in its history, given how well endowed with mineralisation it is. However, in Nevada, where the Carlin Trend bends to the east and north of Walker Lane, and can claim to be the most famous gold-bearing trend in the world, Walker Lane has tended to be overshadowed.
The Walker Lane hosts a number of richly endowed mines, including Comstock, Goldfield, Tonopah, Paradise, Bodie and Round Mountain, as well as countless historical workings all over the area. Within Mineral County itself are the Candelaria, Rawhide & Aurora mines. To date the part of Walker Lane which lies in Nevada has accounted for nearly 47 million oz. of gold production and 430 million oz. of silver. (Sillitoe study, 2008)
In any jurisdiction other than Nevada, the discovery of Walker Lane would have been the most significant exploration event in its history, given how well endowed with mineralisation it is. However, in Nevada, where the Carlin Trend bends to the east and north of Walker Lane, and can claim to be the most famous gold-bearing trend in the world, Walker Lane has tended to be overshadowed.
The Walker Lane hosts a number of richly endowed mines, including Comstock, Goldfield, Tonopah, Paradise, Bodie and Round Mountain, as well as countless historical workings all over the area. Within Mineral County itself are the Candelaria, Rawhide & Aurora mines. To date the part of Walker Lane which lies in Nevada has accounted for nearly 47 million oz. of gold production and 430 million oz. of silver. (Sillitoe study, 2008)
Nevada is home to some of North America’s most complex geological structures, including the Basin and Range province and a widespread landscape of fault-dominated mountain ranges and valleys. The state hosts a diverse variety of deposit types including porphyry, skarn, low-sulphidation epithermal gold and sediment-hosted Carlin-type deposits, making it an important source of many base metals such as copper, zinc, molybdenum, cobalt, silver, and of course, gold. It has also, in recent years, become a hot spot for lithium given the rising demand from battery markets.
Access to mineral projects across Nevada is made easy by all-weather roads — not the fly-in/fly-out hassle faced in other jurisdictions — which means the costs of mobilizing crews are relatively low; an attractive feature for gold exploration companies.
The Carlin trend may have generated the most heat in the Nevada desert over the past decades when it comes to gold, but most of the best properties are already controlled by majors Newmont, Barrick and Kinross. The high cost of exploring for the often blind and deeper targets that remain on the trend is a big turn off for junior explorers. Today’s mineral exploration companies looking for the next big play are staking claims in one of the state’s other prominent gold trends, the Walker Lane, which offers less expensive exploration with the added upside of plenty of blue sky potential in a relatively underexplored landscape with known high-grade potential.
The north-west trending Walker Lane, one of the largest structural lineaments in Nevada, has played an integral role in the history of the state beginning with the 1859 discovery of the Comstock Lode, representing 8.5 million ounces of gold and about 400 million ounces of silver. The lure of all that wealth led to the gold rush that would eventually build up Nevada’s population enough to earn statehood in 1864.
Unlike the Carlin trend, where most mines are producing ore of less than a gram of gold per tonne, Walker Lane stands out with exceptional high-grade assays. In fact, Walker Lane hosts a number of high-grade districts including Tonopah and Goldfield. Also in the region is Kinross’ Round Mountain mine, which produced approximately 437,000 ounces of gold equivalent in 2017. The giant gold mine’s current reserves plus past production total 29 million ounces of gold. Other prolific mines in the area include Mineral Ridge with 4 million ounces of gold and 6.4 million ounces of silver; and Bullfrog with 3.7 million ounces of gold and 4.6 million ounces of silver.