New vein of gold found in Alaska

I hope this is good news for Juneau. I think I might get a god panning setup…

Idaho-based firm conducted the drill tests

Associated Press The Spokesman-Review

JUNEAU, Alaska – The company developing the Kensington mine near Juneau has discovered a new vein of gold.

Drill tests conducted at the end of last year revealed the new vein. The discovery could develop into a major gold system, Donald Birak, Coeur d’Alene Mines’ vice president for exploration, said Wednesday. Idaho-based Coeur d’Alene Mines is developing the mine.

The tests represent a first phase of drilling. More work needs to be done before the company can say how much additional gold the mine might produce.

The mine 45 miles northwest of Juneau was thought to have 1.5 million ounces of gold reserves and an initial life of 12 1/2 years.

via New vein of gold found in Alaska – Spokesman.com – Feb. 5, 2010.

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Written by JuneauTek

Commercial Fishing Along The Pacific West Coast

2 comments

  1. Is Alaska going to receive any return profit from this new vein of riches and how about the southeast Alaskan natives who ancestors are buried on this land , we’ll they reap the reward from this or is another big company going to with of even thing about the effects

  2. Great news for Alaska. I just read that the owners of this mine project a cost of $500 an ounce to produce the mine’s gold, which is now selling for more than $1,300 an ounce.The company expects Gold Production this year to hit 50,000 ounces, with an average annual production at 125,000 ounces.

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