RE:News...SAM drills Elephant Prospect in NevadaToyaibe Project is located approximately 78 miles south-southwest of Elko, Nevada and is located only six miles south from one of Barrick Gold’s 5 core mines, Cortez Hills, which hosts over 9.9 million oz1.
Other recent nearby discoveries include the ET Blue project 6 miles east and Red Hill about 10 miles east. Each of the discoveries is currently under development by Barrick, and is similar in genesis and host rocks to Toyaibe.
Approximately 175,000 oz of low grade bulk mineable resource has already been defined by historical drilling.
This drilling program will expand this resource but more importantly include deeper holes seeking to find the high grade source of the shallower mineralization.
Barrick continues to uncover these deeper sources which typically yield 0.75 oz per ton....23 gms per ton...and can be mined at very low cash costs.
Hence the elephant hunt..