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Scorpio Gold Corp.
Summary
| Project: | Mineral Ridge | |
|---|---|---|
| Deposit: | Mineral Ridge | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 1/4/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 4-1-2018: Scorpio Gold Corp. announces a Feasibility Study report for its Mineral Ridge deposit at the Mineral Ridge project. Updated feasibility study results incl. post-tax NPV (5%) of $35.1M, IRR of 30.0%. This Feasibility Study and National Instrument | |
| Resources: | (Reserve, P+P): 3.713Mt @ 0.042oz/t Au excluding Heap Leap Pad | |
| CP/QP: | [Resources]: Ian Crundwell (Mine Technical Services Ltd.) | |
| ABSTRACT: | This Feasibility Study and National Instrument 43-101 (NI 43-101) Technical Report provides a technical and economic evaluation for the recovery of gold and silver from processed heap leach material and also additional open-pit-able reserves at the mine (the Property) operated by Mineral Ridge Gold, LLC (MRG). The Mineral Ridge Gold Heap Leach Recovery Project (the Project) is derived from the current and ongoing MRG operation, which is an open-pit mining and processing operation located in southwestern Nevada, in the United States of America (US), approximately 35 air miles (56 km) southwest of the town of Tonopah, Nevada. The existing operations at MRG consist of open-pit mining, followed by four-stage crushing, agglomeration, heap leaching, and off-site recovery of gold and silver from loaded carbon. Independent laboratory testing of samples taken from processed material on the heap leach pad show that further extraction of gold and silver is possible by comminution through grinding, and leaching via the carbon-in-leach (CIL) process. Scorpio Gold commissioned Novus and others to update a NI 43-101 Technical Report completed in November 2017 to evaluate the technical and economic viability of reprocessing the heap leach material in conjunction with mining additional Mineral Reserves using open-pit mining methods. The heap leach material will be mined with the use of earth-moving equipment; it will then be slurried and then pumped to a new processing facility that will consist of two ball mills, a preleach thickener, a CIL circuit, and tailings thickener and filtration. Loaded carbon will be shipped off-site for the recovery of gold and silver. | |
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