Central Nevada Gold acquires high-grade opencast gold mine from Newmont Corporation

Mule Canyon is a past producing high-grade opencast gold mine located approximately 10 km southeast of Battle Mountain, Nevada. The mine has an active plan of operations (federal permit), water rights, and grid power directly on site. Mule Canyon was placed on care and maintenance in 2000.

Mule Canyon Highlights

• Discovery drill intercept of 41.1 m grading 24.8 g/t gold (Goldfields Corporation).
• Database comprising 2149 drill holes totalling more than 335 000 m of drilling.
• Approximately 500 000 ounces of historical gold production over five years.
• Historical head grade of 3.8 g/t gold.
• Historical metallurgical recoveries of approximately 94%.

Central Nevada Gold is focused on advancing Mule Canyon through pre-feasibility and permitting with the objective of delivering a construction decision. The company expects to announce a new mineral resource estimate and supporting technical report prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) in the coming months. Mine planning and economic studies are underway, and significant advances have been made on the project's critical permitting path. Concurrently, the company is actively evaluating a public listing on a North American stock exchange.

Central Nevada Gold is led by an experienced team of mining executives, including Simon Griffiths (President and CEO) and Fraser Buchan (Executive Director), with a track record of financing, developing, and operating commercial-scale precious metals mines. The team has held senior leadership roles at Andean Precious Metals, OceanaGold, Newcrest and Newcastle Gold and has developed and operated large scale precious metals mines including the San Bartolomé Mine in Bolivia, the Castle Mountain Mine in California and the Haile Mine in South Carolina.

Simon Griffiths, Chief Executive Officer, commented: “We have acquired a standout brownfield project with a significant baseline of historical drilling, production data, and environmental studies which will allow us to advance efficiently through development and permitting phases. The potential of this project is underwritten by the strong support from early-stage investors. Nevada is a jurisdiction where mining projects get permitted and built.”

Read the article online at: https://www.globalminingreview.com/exploration-development/21072026/central-nevada-gold-acquires-high-grade-opencast-gold-mine-from-newmont-corporation/