Published: August 29, 2025 |

[Click image to enlarge]

Solidus Resources secured a record of decision from the United States Bureau of Land Management on Tuesday clearing a major regulatory hurdle on the track to production.

The approval enables Solidus to build, operate and maintain an open-pit gold mining operation, a trio of waste rock facilities and a heap leaching facility.

This operation will take two years to construct followed by 11 years of mining, three additional years of ore processing and five years of reclamation and closure work. It holds 3.8 million ounces of gold, according to a recent assessment.

“An incredible accomplishment by our team and the first step towards building Nevada’s next state-of-the-art heap leach operation,” said Mike Chen, mining manager at Waterton Global Resource Management, the parent company of Solidus.

Sailfish Royalty is also quite pleased about the news. The royalty and streaming is now closer to benefiting from its 3 percent net smelter royalty at the site. Sailfish highlighted that the plan of operations approved by the permit enables 33 percent more throughput than the amount specified in this year’s feasibility study.

The current price of gold is a huge bonus for Waterton, Sailfish, and other investors as well. Optimism about development-stage Nevada gold operations like Spring Valley or the Limousine Butte project held by NevGold is at an all-time high.

“This isn’t just a box checked, it’s the beginning of something big. Spring Valley represents the largest independent gold mine in the country and the first federal approval of a new domestic greenfields gold project in over a decade,” said Sunstone Environmental Solutions, a mining industry environmental management specialist with ties to Solidus. Sunstone contributed to the 2025 Spring Valley feasibility study.

The news follows Solidus obtaining a letter of interest from the Export-Import Bank of the United States regarding the Spring Valley Mine. The official American export credit agency said it is interested in potentially financing the operation with US$835 million.

Stakeholders are now awaiting a definitive financing agreement. The site will employ about 250 Nevada citizens once operations are in full swing.

Solidus Resources is a gold developer focused on advancing the Spring Valley Gold Project in Pershing County, Nevada, through permitting, construction, and into operations. Solidus is a wholly-owned subsidiary of Waterton Mining, a private mining company.

Be in-the-know when you’re on-the-go!