Business: Back to the Hills for Gold

Eureka! There is still a bit of gold in them thar hills. In the past three weeks three companies have announced important new discoveries in northern California and Nevada. Homestake Mining Co., the nation's largest gold producer, tapped a vein that holds more than 1 million oz. of gold in California's wine-rich Napa County. Newmont Mining Corp. has uncovered gold deposits near Elko, Nev., that should yield about 440,000 oz. Louisiana Land and Exploration Co. made known last week that it had found ore containing both gold and silver near Round Mountain, Nev.

With the price of gold still surging—one day...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!