WINNEMUCCA - The Getchell Trend is roaring back to life, and a junior Canadian exploration company wants in on the action.
Ashburton Ventures announced last week that it has signed an agreement with Premier Gold Mines to option the Golden Edge property. Under the deal, the Vancouver company can earn a 50 percent interest in the project if its spends $3 million on exploration activities over the next three years.
The project site lies about 16 miles south of the Turquoise Ridge joint venture project, and Ashburton believes that it's sitting on the same fault zone that runs south to the past-producing Lone Tree Mine.
Based on its interpretation of earlier studies, the company thinks that mineralization at Golden Edge is buried underneath 200 to 500 meters of cover. It plans to test its theories by drilling for a concealed bulk gold target in 2012.
In the meantime, Atna Resources is getting ready to resume production at the nearby Pinson Mine, while Barrick is exploring the possibility of transforming Turquoise Ridge from a relatively small underground mine into a large open pit operation.
Barrick President and CEO Aaron Regent said last year that the Turquoise Ridge project has the potential to quadruple the mine's production and reserves.
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