Stakeholder is moving forward with drilling on Goldstorm in Nevada, 17 km northwest of Klondex’s Ken Snyder “Midas” mine
The following link from the US Geological Survey data website relating to the Ken Snyder mine:
The following is a short description of the Midas mining district:
Midas is a historic mining district, with recorded production beginning in the early 1900s. Most accounts estimate approximately 300,000 ounces of gold and three million ounces of silver production between 1907 and 1942 when non-essential mining activity was suspended by the War Production Board. This production was from predominately underground mining of high grade veins that outcropped at surface, sporadically augmented by discoveries of placer deposits. The largest historic producer was the Elko-Prince mine in the northern part of the district. Since modern mining began in 1998, 2.2 million ounces of gold and 26.9 million ounces of silver were produced by Franco-Nevada Mining, Normandy, and Newmont. Production rates peaked in 2011 and declined in succeeding years. Gold grades have also declined, indicating Newmont’s planned depletion of the Main Veins. Silver grades increased in 2013 indicating the shift in production from the Main Veins to the East Veins where the silver gold ratio is substantially greater.
Steps being undertaken currently by Stakeholder include drill pad preparation and engagement with drill contractor.
Christopher J. Berlet BSc (Mining), CFA
President & CEO, Stakeholder Gold Corp.