MILL BAY ventures inc., Nevada Properties: Goldstrike hosts two
deposits - the Meikle underground mine (5.3 million ounces) and the Betze-Post open pit mine (23
million ounces). (Figures are combined reserves & resources, as at December 1999), For those
not familiar with high-grade vein deposits on the Carlin Trend, an overview of the Ken Snyder Mine
is useful for comparison purposes. At Ken Snyder, geological modeling and persistent drilling led
to the discovery of the deposit. The Ken Snyder mine is a 650-ton per day underground operation,
opened in 1999 at a capital cost of less than US$100 million. Annual production is about 250,000
equivalent ounces of gold at a cash cost of around US$100 per ounce.