| Ekwan-X
(EKWX) has the exclusive rights to Nevada, New
Mexico, and Arizona. In April 2002, the State of Nevada in the U.S. celebrated an impressive milestone with the production of the 50 millionth ounce of gold from the Carlin Trend. Only two other locations in the world have achieved this level of production: South Africa’s Witwatersrand and Uzbekistan’s Muruntau. The Carlin Trend in Northeastern Nevada (5 miles wide and 40 miles long) discovered in the 1960’s and having produced more than 50 million ounces of gold, with reserves and resources in exceeding 100 million ounces, currently produces more than 4 million of gold annually. Nevada’s gold mines produce approximately 7 million troy ounces of gold per annum, worth $2.8 billion. Nevada’s gold production accounts for approximately 76% of all U.S. production and 11% of world production, maintaining Nevada’s rank as the largest gold producer in the U.S. and the third largest producer in the world behind South Africa and Australia. With Newmont Mining and Barrick Gold being the major gold producers in Nevada, the region got a strong boost from a major discovery in 2003 called Cortez Hills, that added in excess of 5.2 million high-grade gold ounces to the Cortez Mine, a joint venture of Placer Dome (60%) and Rio Tinto (40%). This discovery will extend the life of the Cortez Mine property to at least 2014, and will generate 1 million ounces of gold per year at a cash cost of under US$100 per ounce. The major Cortez Hills find in the Battle Mountain Trend in north central Nevada, 100 km south-west of Elko, has resulted in a flurry of exploration and drilling activity in the Cortez area by a growing number of exploration companies.
Announcements pending.
Announcements pending.
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