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Friday, 21st July 2006 (5684 views)

Midway Gold has become the latest gold mining company to announce positive news from a gold mining property in Nevada.

The company's Spring Valley project, near Lovelock, is to see its exploration drilling programmes extended after the company discovered prospects for a wider scope of gold mineralisation.

"The company is aggressively exploring our large claim holdings," said Alan Branham, president of Midway Gold.

"We are encouraged to see gold intercepts in almost every new hole. This is strong evidence that a large metal-rich system has acted across the property.

"We are also pleased to see several new targets developing within our 15 square mile claim block," he added.

Mr Branham also noted that Nevada was known for districts in which many large gold deposits can form and that Spring Valley would hopefully emerge as a "new district" rather than "simply exploring a single new deposit".

 

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