Gold mine part of new acquisition deal

A new acquisition deal will see Shoshone Silver Mining take over a gold mining property in the United States, it has emerged.

The new deal, which will see the firm take over 100 per cent of shares formerly owned by Kimberly Gold Mines, includes the Rescue Gold Mine property, which is located in Idaho County and has previously yielded gold grades of one ounce per tonne.

Also included in the scheme is the Kimberly Gold Mine, which accesses a total of four gold-bearing veins through a network of ten tunnels, with workings totalling 7,500 feet.

In 2002, it was reported that the Kimberly Gold Mine contained an inferred gold resource of 166,740 ounces. This figure was based on historical data from the site.

Meanwhile, Shoshone Silver Mining is headquartered in the US state of Idaho and has a large portfolio of metal exploration projects in the United States and Mexico.