Golden Independence Mining Completes PEA for Its Independence Project, Nevada
[Click image to enlarge]
Golden Independence Mining has released the results of a positive preliminary economic assessment (PEA) for the company’s flagship Independence Project which adjoins Nevada Gold Mines’ Phoenix-Fortitude mining operations in the Battle Mountain-Cortez trend of Nevada.
“The PEA shows that at base case gold prices of US$1,700 per ounce, the heap leach component of the Independence project has a significant positive net present value and very strong leverage to the gold price. At current spot prices, the project’s estimated net present value increases by more than 30 percent to US$45 million with an after-tax IRR of 22 percent.” said Golden Independence CEO Christos Doulis.
“Our focus in 2022 will be to continue to examine opportunities to significantly grow the project though additional exploration work and strategic acquisition, additionally, unlocking the value of the high-grade skarn, and advancing and expanding the heap leach component of the project,” added Doulis.
The PEA was completed by Dyer Engineering and Kappes, Cassidy & Associates, both of Reno Nevada, and provides an attractive preliminary economic case for the near-surface development of the Independence project. The PEA is based on the mining and processing a total of 20 Mt of ore grading 0.4 g/t gold and 7 g/t silver incorporating only 60 percent of the near surface resource constrained by a US$1,800/oz gold price pit. The PEA envisions a 9,000 tonne per day open pit and heap leach operation with a Merrill-Crowe circuit. Significant opportunities exist for improvement and optimization including potential for shared infrastructure with the adjacent Phoenix operating mine.
The study envisions a mine-life of just over six years, producing 195,443 oz of gold and 1.28 million oz of silver with life-of-mine all-in sustaining costs, net of silver credits, of US$1,078 per oz of gold.
The economics of the heap leach component of the Independence project could be improved by leveraging existing infrastructure associated with the adjacent Phoenix Mine operated by NGM. The potential to expand the scale of the project is significant with several nearby heap leach amenable deposits having already been delineated but lacking the scale to support stand-alone production. Golden Independence is in active discussions with various mining companies to expand the scale of the Independence project.
Review charts and read more details HERE
About Golden Independence Mining
Golden Independence Mining Corp., the operator of the Independence joint venture with Americas Gold Exploration Inc., is a development company focused on the advanced-stage Independence Project located adjacent to Nevada Gold Mine’s Phoenix-Fortitude mine in the Battle Mountain-Cortez Trend of Nevada. The Independence Project hosts an M&I resource of 334,300 ounces of gold and an inferred resource of 847,000 ounces of gold with a substantial silver credit. A 2021 preliminary economic assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of US$1,078 per ounce of gold.
To stop by Golden Independence Mining’s website, CLICK HERE
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2022 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
