Gold Mining Industry: One of Nevada’s Strengths

mining tunnel

The state of Nevada produces nearly 80 percent of the yellow metal mined in the United States, making it the best mining jurisdiction in the country. There are several companies digging up this precious metal from tested sources, while some are working hard to find gold in other new areas.

mining tunnelA good source of the yellow metal was first found near the canyon near Virginia City. Later, other discoveries of low-grade deposits made the state mineral-rich. Today, modern day prospectors know how to discover future deposits in the vast public lands of the state.

According to genesisgoldcorp.com, new projects that will further empower the state through gold mining include the following:

  • An underground mine has been discovered with apparently more than 1.6 million ounces of the yellow metal. By 2016, the owner has planned to bring up 100,000 ounces of metal production.
  • A high-grade silver and yellow metal discovery near the historic bullfrog mine is on the list, too. The results of recent drilling has shown excellent outcomes, which can help expand the resource.
  • There is another over-a-million ounce of the precious metal project, which will go into production this year. Its owner has a long line of rich projects waiting to be included.
  • A huge Mexican project will also go into production soon.
  • There is a recently reopened mine with plenty of precious metal left in the pit, including silver. New resources have also been discovered around it. This mine owner has huge resources of 3.4 million ounces and more.

This is a very arid state with very little water supply. Prospecting here is done with dry washers and metal detectors. As gold remains abundant throughout the state, excellent mining opportunities continue. Much of the yellow meal found here is actually an alloy with silver called Electrum, which has a dull yellow color.

The companies prospecting have managed the business of mining well to give power to one of the least populated states in the country. Unlike oil and coal extraction where the company pays royalties for minerals got from public properties, precious metal miners do not have to pay for deposits they discovered on federal land.

So, fortunes made are considerably more, making the state an even better place for its residents.

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