While gambling steals the state’s spotlight, gold mining remains one of Nevada’s longest serving industries. Nevada mines produce approximately 80% of the gold that comes from the U.S. annually. The region is home to the world’s largest gold producers, including Barrick, Newmont, Kinross and Goldcorp.
Nevada is rated the third best mining jurisdiction in the world, according to the Survey of Mining Companies (2008/2009). Prepared by the Fraser Institute, an independent research organization, the annual review is based on a composite index measuring government and environmental regulations, infrastructure, political stability and labour.
As a result of its mineral-rich geology and strong mining climate, Nevada is a prolific gold producer. Compared against a list of countries, the State of Nevada is ranked as the fourth largest gold producer in the world. Nevada has produced 169 million ounces of gold to date, with remaining reserves more than 70 million ounces.
More importantly, Nevada has excellent potential for additional discoveries.
In September 2007, Fronteer acquired 100% of the common shares of NewWest Gold Corp., one of the largest holders of precious metals mineral rights in Nevada's gold trends. Through exploration/development in this region, Fronteer aims to add significant gold ounces to its resource base and company value by expanding existing deposits with NI 43-101 compliant resources ounces, completing project-first resource estimates and finishing preliminary economic assessments.
One of our key assets is Long Canyon, a deposit potentially defining an entirely new gold trend. Other highlighted projects include Northumberland, regarded as one of the largest undeveloped Carlin-style deposits in Nevada with a gold-equivalent resource of 2.44 million ounces indicated and 815,000 ounces inferred; and, Sandman, a property which Newmont Mining Corporation has the option of advancing to a production decision by June 2011 (See links to individual project pages near top left of this page).Long Canyon, Sandman and Northumberland now comprise our future production platform. We aim to build regional production by advancing these projects sequentially over the near-term, funding the company's growth with low risk of dilution.