ECHO BAY HAS NEVADA GOLD DISCOVERY Echo Bay Mines Ltd said it discovered a gold deposit in the Cove area near its McCoy gold mine in Nevada. Echo Bay said it encountered gold in 39 of 42 drill holes at Cove. It said seven holes averaged 0.185 ounce gold a short ton and 1.8 ounces of silver, with the seven intersections averaging 118 feet in thickness beneath 25 feet of overburden. The discovery is on the McCoy property, one mile northeast of the McCoy open pit, heap leach gold mine, which is expected to produce about 85,000 ounces of gold this year, Echo Bay said.