Gold Mining – Marabi Wed, 21 Jul 2021 13:47:31 +0000 en-US hourly 1 Gold Mining – Marabi 32 32 Costerfield high-grade gold mine drives turnaround Wed, 21 Jul 2021 12:43:14 +0000

It is located in the same district as the prolific Fosterville mine at Kirkland Lake Gold, and like Fosterville, it has an extremely high gold grade at its Youle mine, at approximately 15.3 grams per tonne of gold. , as well as 3.3% antimony. Exploration is aimed at increasing the mine’s reserve base to the extent that the Company can consider future expansion of the processing plant.

“We have a very similar geology to Fosterville and although Costerfield is younger, mineralization has occurred during the same time period,” said Dominic Duffy, President, CEO and Director

“We think the grade in our veins is higher, but the veins in Fosterville are larger and so our grade is diluted in mining. We have upside potential at depth and high grade, and we are finding grades even higher than our current production grade in the recently discovered Shepherd Zone, which is below the Youle deposit. “

It wasn’t too long ago that the company’s future was a business, however, with $ 42 million in backing from its top five investors, the bailout funding gave the CEO the time needed. time, Dominic Duffy, and his team to implement planned operational improvements. to both assets.

“I became CEO three years ago at a time when the company was only focused on operations and we were keeping exploration to a minimum,” said Duffy. Mining log.

Duffy, a mining engineer, worked on the turnaround of Cerro Bayo and was subsequently promoted to COO before becoming President and CEO.

“We got the funding of US $ 42 million based on a turnaround story and we executed it at a T. Now we’re in a much more stable financial position where we can invest more in the business. exploration, ”he said.

Mandalay makes record exploration investments in 2021 as it seeks to expand beyond being a gold equivalent producer of 100,000 ounces per year. Mandalay has earmarked US $ 7 million for exploration in Australia this year and US $ 4 million in Sweden; each producing about 50,000 ounces per year as Duffy aims to grow mine life and take the company out of the depletion replacement cycle.

At Costerfield, the Shepherd zone returned results such as an actual width of 6.27 m grading 23.6 g / t.

Costerfield currently has reserves of approximately 255,000 ounces of gold grading 12.8 g / t and 21,700 tonnes of 3.5% antimony, within a resource of over 380,000 ounces of gold and 39,000 t of antimony.

If the company manages to increase Costerfield’s reserves to around seven years of production over the next three years, it could trigger an investment of $ 20 to 25 million to upgrade the plant from 450 tonnes per day to 650 tpd. To do this, we must intensify the exploration campaigns to build deep drilling platforms, because the company is targeting deeper resources, because it has reached the limit of what it can do with its platforms. current forms.

At Björkdal in Sweden, it is also targeting new resources at depth, where it successfully finds new mineralization. It is also drilling the extension of a mineralized corridor to the south where Boliden Mining has been operating successfully for many years.

“These structures from the Boliden mines run from west to east and continue through our property, so we are starting a new exploration project there,” said Duffy.

Successful exploration in both operations could allow the company to increase production by 20% to around 120,000 AuEq oz / year within two years and set the stage for future growth to the 200 level. 000 AuEq oz / y, where gold producers attract more investor interest.

In addition to increasing its exploration budgets, the company expects to be net debt free by the end of this year and debt free by 2023, which will further open its horizons for growth.

The company is repaying approximately $ 3.8 million per quarter with approximately $ 51 million in arrears and a final lump sum payment of $ 29 million due in early 2023. The completion of a large elevator storage facility from tailings at Björkdal in early 2022 will also free up cash.

“People see that we have debt on our balance sheet and maybe we could look to pay it off faster. Once we run out of net debt, we have more flexibility to invest in other projects.” , said Duffy.

“We will seek to further intensify our exploration and hire more geologists. We’ll also be looking at other uses of capital, including reinstating a dividend, which Mandalay was paying until 2017, although it may be more interesting to look outside. for non-organic growth opportunities by 2022.

“Unless we have a significant discovery, we can only increase production of the assets within certain limits, so we’ll look at other options,” Duffy said.

Duffy sees an opportunity in the form of acquiring undervalued assets and improving them. “We have proven that we can do it, so we are actively looking for undervalued assets to turn around and make a profit,” he said.

Mandalay has a successful history of doing this, including: Costerfield, Björkdal and Cerro Bayo in Chile, which was optioned to Equus Mining.

By 2021, the company aims to produce over 110,000 consolidated AuEq oz, an improvement over the 103,000 AuEq oz in 2020 at an all-in sustaining cost of $ 1,254 / AuEq oz and continue to regain market confidence. .

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Yamana gives green light to development of Wasamac gold with higher production Tue, 20 Jul 2021 18:13:13 +0000

The economics of the project include an after-tax net present value of $ 470 million, with an after-tax internal rate of return of 24% at a gold price of $ 1,500 per ounce. Initial capital requirements are $ 416 million, including $ 318 million for underground mine development and mobile equipment.

One of the most promising aspects of the Wasamac project is a sustained annual gold production of 200,000 ounces for years two through five and 169,000 ounces per year in the first ten years of production.

One of the most promising aspects of the Wasamac project, according to Yamana, is the sustained annual gold production of 200,000 ounces. for years two through five and 169,000 oz. per year during the first ten years of production. All-inclusive sustaining costs are estimated at $ 828 per ounce.

Yamana refined the geological model and increased the probable mineral reserve. It now stands at 23.2 million tonnes at a grade of 2.56 grams of gold per tonne for 1.9 million ounces. recoverable gold. This material will support the first ten years of production.

The deposit also contains 5.8 million tonnes indicated at a grade of 1.76 grams of gold per tonne for 326,000 ounces. contained gold, plus an alleged 4 million tonnes at 2.01 grams of gold per tonne for 258,000 ounces of gold.

Wasamac will be a bulk underground mining operation with a minimal footprint, the company says. The use of an underground conveyor, electric mining equipment and high-efficiency fans will significantly reduce the carbon emissions of the project, Yamana said. Installing the conveyor, rather than using diesel trucks, will save approximately 2,233 tonnes of carbon dioxide emissions per year.

The existing Camflo plant will be refurbished with an initial throughput of 7,000 tonnes per day, although it can be upgraded to the rated capacity of 7,500 tonnes per day. A portion of the tailings will be returned to the mine as a paste filler, and the remainder will be placed in a dry-cell, filtered storage facility approximately six km from the mill.

Yamana thinks he can define other reserves that would support 200,000 ounces. production level and support an additional five years of mine life. It plans to spend C $ 15 million for a 120,000 meter infill and exploration campaign in 2021 and 2022. An additional 10,000 meters will be drilled this year on the larger Wasamac property to delineate secondary zones and test extensions. of Wasa shear.

The company recently acquired the Francoeur, Arntfield and Lac Fortune gold deposit located 6 km from the plant. They too could offer additional mining opportunities in the future.

The development at Wasamac will be fully funded from cash and free cash flow.

(This article first appeared in The Northern Miner)

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Bardoc ready for the long haul as Australia’s next mid-level gold miner Tue, 20 Jul 2021 07:06:00 +0000

The first gold is expected to be cast in the fourth quarter of 2022 – with a final investment decision expected before the end of this year.

A definitive feasibility study completed earlier this year predicted an average production of 136,000 oz / year, positioning Bardoc as one of the largest new gold mines expected to go into production in Australia in the coming years.

And that’s just to start. The vast resource base and huge exploration potential means Bardoc will be more than a flash in the pan.

“We have an eight-year lifespan based on the million ounces of reserves declared in our feasibility study. But we also have 3 million ounces of resources – so we see significant potential to expand our plan. current production, ”Bardoc CEO Robert Ryan said.

“We are currently conducting a number of project improvement studies, looking to create additional opportunities, develop open pit and additional drilling areas to upgrade some inferred resources to fit into the plan.

“We have positioned ourselves on a platform for growth – having developed our mining plan to show that we will increase our production from about 120,000 ounces per year to about 150,000 ounces and more per year from the fourth year. .

“We see ourselves as becoming a true mid-level operator and to do that you need a single operation producing over 150,000 ounces / year – with the potential to eventually grow somewhere around that 170,000 level to 180,000 ounces / year. That’s where we see this project heading and we have a five-year plan in place to make it happen, ”Ryan said.

Part of the WA-based company’s plan is to develop a stand-alone 2.1 million tonne / year gold processing and flotation plant – which offers further benefits given its strategic location.

“In the fantastic position where the mine is – just north of Kalgoorlie – there are a lot of stranded assets with good quality resources that don’t have the capacity to justify a stand-alone processing plant.

“Bardoc itself was born out of a consolidation to justify the stand-alone treatment operation and, as we begin to look to the future, I think we can offer this opportunity to others – be it on a merger and acquisition basis, or be it toll processing basis, ”he said.

The open-pit mine of the Bardoc Gold project of the same name

Australia is the second largest gold producer in the world and Eastern Goldfields is its first gold province. The country has 14 of the world’s largest gold mines, 11 of which are based in Western Australia. If the state were a country, it would be the fifth largest producer of gold in the world.

“We’re in a perfect position to take advantage of it,” Ryan said.

“There is no better place to build a gold mine than Kalgoorlie. It is a leading mining jurisdiction, close to infrastructure and many local amenities,” noted the CEO.

Bardoc’s final feasibility study from March 2021 shows the NPV of 6% and the after-tax IRR for the project at a gold price of A $ 2,100 per ounce at A $ 283 million and 30%, respectively . This improves to A $ 365 million and 38% at a gold price of A $ 2,250 / oz.

“When we start to look at the value of the project, the total NPV of the project at current gold prices would exceed A $ 450 million. Now if we start to consider where the opportunity lies with some of our current projects – probably two of the greatest values ​​drivers are the underground Zoroastrian and Aphrodite deposits.

“At steady state production, the Zoroastrian subsoil will produce about 60,000 ounces per year, and the Aphrodite subsoil will produce 100,000 to 110,000 ounces per year. And we all know that most of the mines in gold fields can start with four or five years mine lives, but they end up lasting seven to ten years and more.

“There is no better place to build a gold mine than Kalgoorlie. It is a leading mining jurisdiction ‘

“So we see a lot of opportunities to be able to leverage the lifespan of operations through basement extensions. And they add a lot of value based on NPV. We did some blue sky style scenarios, looking at what a potential year of mine life would look like in terms of cash flow at Zoroastrian, and that potentially adds A $ 50 million in free cash flow to the project. .

And the project has a low all-in sustaining cost for the life of the mine, of around $ 1,188 A / oz.

“In the long term, we have a high margin on the project. At the moment we are sitting on a gold price of around AU $ 2400 / oz and that really gives the project in its current format some exceptional financial measures.

“With our all-inclusive sustaining costs, that means that with any movement in the price of gold, we will always have a fantastic project ahead of us,” he said.

Bardoc has attracted a range of high-caliber global traders vying for drawdown deals. After reviewing them, in December, the company chose MRI Trading – the world’s largest independent trader of non-ferrous concentrates.

This will allow MRI to manage the sale of Bardoc gold concentrates – which represent approximately 54% of expected production over the life of the mine.

“Having someone like MRI Trading on board is really great. The drawdown agreement not only gives us certainty over the production of our gold concentrate, but it also gives us a partner who has international standards and connections. strong throughout the Asian community.

“They are a fantastic group to get involved with,” he said.

With the final mining plan quickly taking shape and a long-term mining partner secured, Ryan – who spent 18 years living and working in Kalgoorlie – is eager to show the market what the Bardoc management team can do. with a working mine.

“There is a lot of potential for us once we get into mining and we can’t wait to show the market what we can do. We will continue to develop this operation – well beyond what we put in the DFS earlier this year. where the opportunity lies.

“The real strength of the team is our ability to operate the mines and our experience working in the Kalgoorlie area.

“I think the current share price position does not accurately reflect where we should be. With the quality of the team, resources and operations that we have, there are many opportunities for Bardoc to. exceed expectations for stock price. growth, ”he said.

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Illegal gold miners threaten fragile way of life deep in the Amazon rainforest Mon, 19 Jul 2021 13:48:00 +0000 Dressed in a traditional headdress, their faces decorated with paint, this indigenous community prepares their bows and spears to defend their lands against the garimpeiros, illegal gold miners in search of gold gleams in this vast and rich territory. .

Fernando, one of the Yanomami leaders, told CNN on a recent reporting trip to the riverside settlement of Palimiu what the community has been going through for months now.

“The problem is, the armed garimpeiros spend the night here,” he told CNN in May. “There’s always a lot. Up to seven canoes,” with five to seven people in each.

The miners, who have set up camps on nearly 24 million acres of the Yanomami Reserve – roughly the size of Portugal – use the waterways as a thoroughfare, carrying gasoline and people, as well as goods to their bases.

But it’s rarely done quietly, says Fernando, who accuses the miners of encroaching on Yanomami land, intimidating and shooting them.

Between May and June, the village suffered five attacks. One of them, a half-hour shootout on May 10, was filmed.

The police listened to their complaints, according to the Yanomami.

The video shows women and children running for safety as a boat passes the shores of their village.

The incident left four people dead, including two Yanomami children, according to Brazilian federal police.

The nerves are high.

“These people are ruining our land, killing our children, they are making us suffer,” Adneia, a Yanomami elder, told CNN.

Faced with the increase in violence, the government asked the federal police and the army at the end of May to investigate.

It was a welcome arrival for the Yanomami who were on high alert, taking turns patrolling the night.

The whole community was put to work, turning the paddles into weapons, the bamboos into spears.

During CNN’s May visit to the Amazon, Fernando showed police the guns that have been their line of defense for years.

“This one’s a spear. It pierces quickly and you’ll die fast,” he said. “It goes through everything and it has venom. Lots of venom.”

According to the Yanomami, illegal mining on their land increased by 30% last year, devastating the equivalent of 500 hectares.

Disturbing aerial photos by photographer Christian Braga, taken from a Greenpeace helicopter this year, show the uncontrolled expansion of this mining operation in their territory, with deep craters moving the very ground and dense forest completely obliterated.

After years of drilling and digging, the land appears barren. The impact of this is felt daily by this community.

“We are threatened by these bandits. This land is being destroyed, our trees, our fish,” Ricardo, the head of the Yanomami colony, told CNN.

Neila, a young member of the community, goes further.

“When they search for gold in our lands, they damage our river, our water. They repel our beasts of prey,” she said.

Miners set up camps throughout the 24 million acre reserve.

All they want, say the Yanomami, is to protect their children and their already fragile way of life – their very existence as stewards of the Amazon.

The struggle for land in the Brazilian Amazon is not new. Since gold deposits were first discovered, illegal gold mining has flourished, and with it, the desire to get rich.

According to the government, there are currently around 20,000 illegal miners cutting strips through the rainforest, digging several meters deep in the rich land and polluting the river with mercury, according to the government.

The Yanomami point the finger at Brazilian President Jair Bolsonaro, who since taking office in 2019 has supported legislation to open indigenous protected areas to mining, has funded agencies tasked with preventing illegal mining , logging and herding, violated indigenous rights and repeatedly claimed that indigenous territories are “too big”.

The Yanomami tribe, especially the matriarchs, told CNN that these policies have directly contributed to the destruction they see every day and the threats and intimidation that have become daily.

“They threaten us and we cannot sleep. Bolsonaro thinks that this land belongs to the garimpeiros (illegal miners) but this land belongs to us. This land does not belong to Bolsonaro. Bolsonaro sends us the garimpeiros,” Adneia said.

Neila doesn’t hold back, adding, “Bolsonaro, you are ignorant. And because you are ignorant, you let these people come into our land. You have to get them out now. This is our land. This is our water, it is not your water. “

The Brazilian government told CNN it is committed to promoting and protecting the rights of indigenous peoples. He also said that alleged violations by illegal miners on Yanomami indigenous lands are being investigated by federal authorities in a number of operations.

“Bolsonaro, you are ignorant. And because you are ignorant, you let these people enter our country.”


Bolsonaro recently visited the area where he told a Yanomami community that he would respect their wish not to exploit. But critics say his words do not mean he will tackle mining, and could instead serve to divide the indigenous community as he pushes to legalize mining and other business ventures in the indigenous territories. Bolsonaro introduced a bill to Congress that had been on hold since 2007 that would eliminate illegal mining by simply legalizing it, among other changes in indigenous land rights. Congress is expected to vote on this bill shortly.

The Brazilian federal police and army listened to their complaints, according to the Yanomami.

“We hope the soldiers will help us. They are warriors. We protect them like they protect us,” Fernando said.

But while the police want to protect them, they don’t want to make excessive promises.

The federal police and the army were called with increasing violence.

“We are not looking to fight. We are here to observe and see what is happening and to accompany you. Whatever you need, we are here,” a policeman told the community.

The reality is they can’t stay here forever – the land is just too big for them to patrol. Then, the federal police and the army board their helicopter and begin their search for illegal minors.

From above, the challenge for them is made clearer. The Yanomami Reserve sits in the heart of the vast and dense Amazon rainforest, and finding illegal miners becomes a cat-and-mouse game.

The helicopter eventually spots an opening and the police run to arrest the miners in their tracks.

“Federal Police. Come here. Sit here,” they ask.

The miners lift their T-shirts to show that they are unarmed, and questioning begins. It’s as much about catching the criminals as it is about understanding how they operate, who pays them and finances the devastation.

One of the illegal miners told the police, “Life is tough. We are here because there is no work. Yes [I] am not there, I would be in the street. I have been working as a miner for a year and a half and I am not here because I like it. I am here to survive. ”

The miner told CNN he has been at the mine for three months, but so far has yet to see any gold gains, adding: “Miners are treated worse than bandits. 95% people here have families. “

Police also interviewed a group of three women who said they worked as cooks for minors.

A cook says she arrived by canoe three days before the police arrived and had paid four grams of gold (worth about $ 200) for her trip. But with the job currently at a standstill, she feared she would struggle to earn even that amount. Not the gold rush many had dreamed of, yet in the midst of a pandemic, with rising unemployment and skyrocketing gold prices, it has become the Wild West of the world. Brazil.

Despite evidence of illegal gold mining all around them, the federal police and military make no arrests and just burn miners’ equipment. An officer told CNN: “I gave him a headache. It delays them. It can stop them for a bit – a day or two.”

In a statement to CNN, federal police said the operation did not stop illegal gold mine workers, because “the operation is only the first step in a series of actions, focusing on dismantling the logistics of gold miners and collecting information on the real owners of the gold mines, in addition to identifying the structures of any criminal organizations involved.

This is not the solution the Yanomami were asking for. But until Bolsonaro changes his environmental policy, their cries will continue to fall on deaf ears, environmentalists say; and that burden of wealth – the lungs of the world – is in danger of falling with it.

Gabriel Chaim reported from Palimiu, Brazil for CNN, while Isa Soares and Barbara Arvanitidis of CNN wrote and also reported.

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Delta Drone International enters Mali to deliver LiDAR for Barrick Gold Sun, 18 Jul 2021 17:50:59 +0000

The global drone-as-a-service provider, Delta Drone International Limited (ASX: DLT)
expand corporate mining operations in Mali after being named by multinational gold mining company Barrick Gold for advanced light sensing and telemetry (LIDAR) services.

Rocketmine, Delta Drone International’s dedicated corporate mining brand, will provide fully outsourced service to Barrick Gold via a fleet of mining-specific drones and expert mining pilots, which will deploy LIDAR capabilities progress to examine options for expanding mine sites in the region.

The week-long operation will provide Barrick Gold with the data it needs to guide decision-making, while continuing to focus on their day-to-day mining operations. Rocketmine, will also manage the requirements needed by Mali’s local civil aviation authority, the National Civil Aviation Agency to ensure that all services performed at the site are compliant.

Although of low dollar value (25,000 Australian dollars), the contract adds to Delta Drone International’s list of countries of operation with 11 countries using Delta Drone International’s services.

Delta Drone International CEO Christopher Clark said:

“The addition of Mali to our growing global footprint is a testament to the knowledge and value that our team of mining experts at Rocketmine provide to our customers. “

“By understanding the needs of our customers, the industry in which they work and their local drone rules and regulations, allows them to focus on their day-to-day business operations, while we provide the data necessary to guide the decision-making process. high level decision. “
“We look forward to starting our partnership with Barrick Gold and showing them the breadth of ways drones can improve mining operations for companies. “

About Delta Drone International

Delta Drone International is a multinational provider of drone-based data services and technology solutions for the mining, agricultural and engineering industries. It provides aerial surveys and mapping, security and surveillance, as well as explosion monitoring and fragment analysis through a fully outsourced service with AI and rapid data processing that enables businesses clients to focus on ground operations while Delta Drone International takes care of everything in the air. .

It has in-house proprietary technology, an R&D and integration center and specialized expertise in the design, development and supply of first-rate autonomous security systems for commercial drone deliveries, drone flights for crowd surveillance and in urban areas, as well as’ beyond visual line of sight (BVLOS).

For more information, please visit

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Gold Rush Days spotlight Victor’s wild, difficult and festive story Sat, 17 Jul 2021 19:58:48 +0000

City of Mines is packed with full events this weekend

Trevor Phipps

A favorite local festival, Victor’s Gold Rush Days, is making a comeback starting this Friday.

The event began in the 1890s and has taken place almost every year since, except in 2020, when it was canceled due to the COVID-19 pandemic.

According to the City of Victor website, the celebration began when the city was incorporated. “Gold Rush Days began in 1895 as a ‘World Celebration’ highlighting the city’s incorporation as a city. It began on July 16, 1894 and “honored Victor C. Adams, one of Victor’s first settlers, and the man of whom Victor was named.” According to the city’s website, this happened “because mining took hold in the area and changed the face of the city. The celebration was then billed as the “annual meeting of minors” and consisted of a carnival and a street parade. “

The celebration continued until much of the city caught fire in the late 1890s. The event reverted to Victor in 1904 with the Ringling Brothers as the main attraction.

The celebration took two more breaks during World Wars I and II. Then, after WWII, the event changed its name to “Gold Rush Days” and ran annually until 2020.

This year the festival is back with a busy schedule of events taking place throughout the weekend. Vendors arrive when the celebration begins on Friday morning and then continues until Sunday evening. The full program of events with precise times is available on the TMJ News Facebook page.

Dozens of vendors will set up for three days and the city will be teeming with activities throughout the weekend. A Cripple Creek donkey pen will be on display at the Victor Agricultural and Mining Museum and gold panning will take place at the Victor Lowell Thomas Museum.

People can watch the Robbinswood Chainsaw Carving exhibit and blacksmith demonstrations over the weekend. The Victor Elks Lodge will host special events, including a chili dinner on Friday night, followed by karaoke later in the evening.

At night, the Isis Theater will be open to the public on all three evenings and the Gold Rush Express mini-golf course south of the theater. On Friday, a screening of the locally shot film “Rook” will take center stage for an adult audience, starting at 9 pm.

Saturday and Sunday morning at 7 a.m. Victor’s Volunteer Fire Department will be hosting a pancake lunch. Then on Saturdays and Sundays, people can enjoy music at Pinnacle Park Plaza and a beer garden.

To add to the Gold Rush flair, the Victor Agricultural and Mining Museum will be hosting a Chuck Wagon Lunch on both weekend days. On Saturdays, children 10 and older can participate in Robin Hood Archery. In addition, Old Fashioned Kids games will be held at Wallace Park.

The Victor Lowell Thomas Museum will host its Gold Camp Adventure tours this Saturday and the Sunnyside Cemetery Guided Tour. Saturday night highlights include a plaza dance with the “Dirty Side Down” band at 3rd Street and Victor Avenue.

Then on Sunday many of the same events will be available, but some will be added specifically for 2021. At 9 a.m. there will be a dedication of the Teller County Memorial Wall at Wallace Park. And then at 12 p.m., the Gold Rush Days parade will honor local veterans. The parade is considered one of the flagship events of the high country.

At 1 p.m., the Colorado Vintage Baseball Association will hold its annual Victor Bowl at Wallace Park. Then at 4:30 p.m., there will be karaoke from Cosmic Entertainment on the Pinnacle Park Plaza stage.

Victor companies join in the fun

While staying at Victor for the Gold Rush Days, there are plenty of other things to do in town. The Fortune Club has earned a niche for having the best milkshakes in the area, according to growing reports, and their bar offers a unique menu of old-fashioned cocktails.

While strolling through the city, visitors can have a drink at the Mining Claim 1899 Saloon or stop to eat at the Side Door Restaurant and Bar inside the Victor Hotel. The Gold Camp Bakery is also a popular place to eat and will have special items for sale during the event.

Victor’s town center also has several unique boutiques, including Nana’s Attic, Prospector’s Pick, The Fragile Edge, and the Claim Jumper General Store. Visitors can also stop by the Victor Trading Company and purchase a bespoke broom and other items.

A more recent addition to the town is Phantom Canyon Gifts, inside the Black Monarch Hotel, where several unique and handmade items can be found. Visitors can also stop at Victor E-bikes and Antiques and hire an electric bike to cycle around town.

During Gold Rush Days, many also enjoy visiting the town of Cripple Creek and all it has to offer, including great shopping and friendly casinos. Cripple Creek will join the frenzy of the event this summer, with their second annual Pearl DeVere Day on July 24. This is exemplified by unusual bed runs that you have probably never seen before.

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Evolution Mining plans to pour millions into Red Lake gold complex Fri, 16 Jul 2021 20:07:00 +0000 Australian miner spending three years to boost gold production, increase plant capacity and extend mine life by 15 years

australia Evolution mining plans to invest significant money in its Red Lake gold mining and processing operations over the next three years.

The board of directors of the company recently approved a plan with a three-year investment schedule for Red Lake with the intention of increasing gold production to over 350,000 ounces per year by 2026 and extending the mine life in the prolific Northwest Camp by more than 15 years from Ontario.

In a July 16 press release outlining its strategy, Evolution said the May acquisition of its Red Lake neighbor – the Bateman mine from Battle North Gold – served only to “accelerate” its growth plan. aimed at restoring Red Lake in one of Canada’s major mining districts.

With Bateman in the fold, Evolution’s other operations consist of the Red Lake, Campbell and Cochenour mines with a significant combined mineral resource of 11.1 million ounces and an ore reserve of 2.9 million ounces.

The Bateman mine contributed 733,000 ounces of mineral resources and 635,000 ounces of reserves.

The current mine life is 13 years, but Evolution, of course, wants to extend it.

When Evolution acquired the Red Lake complex at Newmont in November 2019, the company pledged to invest $ 100 million in existing operations and an additional $ 50 million in exploration.

To mine a new gold system, the company is spending between $ 160 million and $ 175 million between 2022 and 2024 to build a surface ramp to access two new mining fronts in the Upper Campbell area of ​​the Red Lake mine.

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Campbell Young Dickenson’s decline will extract 750,000 tonnes of ore by 2024. Ultimately, this will increase to over one million tonnes by 2026.

At its McFinley deposit, between $ 65 million and $ 85 million will be spent on underground infrastructure work between 2022 and 2024. A bulk sample will be taken next year.

The company is working on a study to increase the capacity of the Campbell plant to more than 1.5 million tonnes per year over the next three years. Between $ 30 million and $ 40 million will be spent on this upgrade.

The same is true for the Bateman plant, with plans to expand to 900,000 tonnes per year beyond 2024, giving Evolution the combined grinding capacity at Red Lake to over 2.0 million tonnes. per year. The company has set aside between $ 50 million and $ 60 million for improvements at Bateman.

Capital investments are also being made to upgrade and consolidate tailings storage facilities at Red Lake starting in 2023.

On the exploration side, the company is studying a target in the Upper Campbell and Lower Red Lake areas of the Red Lake mine.

Evolution said the target is around 60,000 to 70,000 tonnes, grading 5.0 to 5.5 grams per tonne for 9,600 to 15,400 ounces, but exploration has not been sufficient for calculate a mineral resource. Part of the three-year mining plan includes diamond drilling of this target.

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exploration junior joins TSX-V with Nevada projects | Mining Thu, 15 Jul 2021 00:30:00 +0000

Infield Minerals

A new junior mining exploration company with projects in Nevada began trading on the TSC Venture Exchange on June 10.

Vancouver-based Infield Minerals Corp. began trading as INFD on the Canadian stock exchange approximately two years after its incorporation.

Although the company is new, having been incorporated in March 2019, Infield Minerals founder, director, president and chief executive officer Evandra Nakano said the company was “on an incredible growth path.”

Over the past two years, Infield Minerals has achieved junior explorer status, built management and technical teams, started trading on the stock exchange and expanded its portfolio of projects.

Infield Minerals projects are concentrated in Nevada.

“Nevada is one of the best mining jurisdictions in the world,” Nakano said in an email. “It benefits from a rich mining history, a well-established regulatory environment, excellent infrastructure, a skilled workforce and an unparalleled endowment of precious metals. “

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The “Mercury One” or M1 gold and silver project is located in White Pine County, and Infield Minerals has a three-year option agreement to acquire a 100% interest in the project.

“After searching around the world for over a year for the right assets to launch Infield, the company opted for the M1 property in Nevada in June 2020,” said Nakano.

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Calidus on the way to start production in 2022 at the Pilbara gold mine Mon, 12 Jul 2021 09:24:00 +0000

ASX-listed Calidus Resources intends to become Australia’s next gold producer. With “rapid progress” made on several fronts in recent weeks, the company says construction of its Warrawoona gold mine in the Pilbara region of Western Australia is now 40% complete, ensuring it is on track for its first gold pour in the first half of a year.

Calidus says blast hole drilling has started alongside a host of other activities, including construction of the tailings dam, as part of preparations for the imminent start of mining.

The processing plant would also go on schedule, with the crusher and crusher now on site and structural steel deliveries have started.

With the start of drilling and blasthole construction progressing on time and on budget, Calidus can now say with confidence that it will be Australia’s next gold producer. Activity on the site is accelerating as most of the civil works are completed at the processing plant, allowing mechanical and structural assembly to begin in the near future.

The centerpiece of the Warrawoona Klondyke deposit contains proven and probable open pit and underground reserves of 14 million tonnes of ore at an average grade of 1.2 grams per tonne for 521,000 ounces of gold contained.

Klondyke has an aggregate measured, indicated and inferred open pit and underground resource of 42.3 million tonnes of ore grading 1.02 g / t for 1.38 million ounces of gold contained.

Calidus also recently confirmed that a series of diamond drilling at its recently acquired Blue Spec satellite high-grade underground gold deposit will provide enough samples to advance the metallurgical studies required for a definitive feasibility study. The study is expected to be completed in the first half of 2022.

Blue Spec, approximately 70 km from Warrawoona, is home to a remaining inferred and indicated mineral resource of 415,000 tonnes of catchy ore grading 16.35 g / t for 219,000 ounces of gold contained.

The company hopes to increase production at Warrawoona from a planned level of 90,000 ounces per year to an average of 120,000 to 130,000 ounces per year for part of the mine’s initial eight-year life.

Thanks to Blue Spec’s contribution, the pre-tax free cash flow of the Warrawoona Gold Processing Center stands at $ 662 million or $ 82.75 million per year over eight years.

All-inclusive sustaining costs of gold production are expected to remain stable at approximately $ 1,292 per ounce.

In an area that is shaping up to be Washington State’s next premier gold jurisdiction, Calidus owns an impressive 780 km² of land holdings. Exploration to date has identified 95 other targets, 22 of which are considered high priority. Other players in the area include Novo Resources with its Nullagine gold mine just down the road and DeGrey Mining with its multi-million ounce Hemi project which continues to impress the market.

Calidus is in an enviable position as he prepares to produce with gold prices at an all time high.

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Exploration successes indicate longer lifespan for Tongon Sat, 10 Jul 2021 16:30:00 +0000

All amounts are expressed in US dollars.

TONGON GOLD MINE, Ivory Coast, July 10, 2021 (GLOBE NEWSWIRE) – Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) – Significant exploration successes could extend the life of the Tongon gold mine, Barrick President and CEO Mark Bristow said today.

Speaking at a local press conference, Bristow said that 10 years after entering production, Tongon could find a new lease of life thanks to promising results from near-mine exploration campaigns designed to replace depleted reserves. of the mine. In addition to the work on the promising targets of Seydou Nord and Tongon Ouest, Tongon has submitted documentation for the extension of its Nielle mining permit by an additional 10 years, in order to support the desire to extend the life of its mine.

Bristow said Barrick, through its predecessor Randgold Resources, has invested and partnered with Côte d’Ivoire through the country’s many challenges and development stages.

“Tongon’s successful commissioning in the midst of a civil war was a historic achievement in the development of a very promising but under-explored gold mining industry in Côte d’Ivoire. Since then, the mine has always been profitable – it just declared a dividend of $ 150 million for the second quarter of this year – and has one of the best safety records in the Barrick group. Over time, it has invested $ 1.77 billion in the Ivorian economy in the form of taxes, salaries, payments to local suppliers and infrastructure developments, ”Bristow said.

In the spirit of Barrick’s partnership with its host communities, Tongon has provided local villages, located in one of the poorest regions of the country, with access to electricity and new markets through a network of power lines, roads and bridges, built new primary schools and clinics, boosted the development of a regional economy by employing local contractors and suppliers, and pre-funded a number of income-generating projects. More recently, he provided a surgical unit to the Mbengue clinic.

“A longer life for Tongon means that he will be able to continue to create benefits to be shared with our Ivorian stakeholders for years to come,” said Bristow.


President and CEO
Marc Bristow
+1 647 205 7694
+44 788 071 1386

Regional Operations Manager West Africa
Chiaka Berthe
+225 87 93 47 32
+223 66 74 75 88

Investor and media relations
Catherine du Plessis
+44 20 7557 7738


Caution regarding forward-looking information

Certain information contained or incorporated by reference in this press release, including any information regarding our strategy, projects, plans or future financial or operational performance, constitute “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “point to”, “could”, “promising”, “targets”, “extension”, “further”, “lead”, “will”, “continue”, “years to come” and similar expressions identify the future- looking statements. In particular, this press release contains forward-looking statements, including, without limitation, regarding: a potential extension of the life of the Tongon mine, including associated license filings; ongoing exploration and reserve replacement opportunities; and Barrick’s support for local businesses, partnership with host communities and contributions to the Ivorian economy.

Forward-looking statements are necessarily based on a number of estimates and assumptions, including significant estimates and assumptions relating to the factors set out below, although believed to be reasonable by the Company as of the date of this press release. In light of management’s experience and perception of current conditions and expected developments are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in forward-looking statements, and such statements and information should not be relied on unduly. These factors include, but are not limited to: fluctuations in spot and futures prices for gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity) ; the speculative nature of mining exploration and development; changes in the performance of mineral production, mining and exploration successes; risk of loss through acts of war, terrorism, sabotage and civil unrest; risks associated with projects in the early stages of appraisal, and for which additional engineering and other analyzes are required; failure to comply with environmental, health and safety laws and regulations; the time of receipt or failure to comply with the necessary authorizations and approvals; uncertainty as to whether some or all of the targeted investments and projects will meet the capital allocation objectives and the critical internal rate of return of the Company; changes in national and local legislation, taxation, controls or regulations and / or changes in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in Côte d ‘Ivoire and other jurisdictions in which the Company or its affiliates operate or may operate in the future; damage to the Company’s reputation as a result of the actual or perceived occurrence of a number of events, including negative publicity regarding the Company’s management of environmental issues or relations with community groups, whether true or not; the risks associated with artisanal and illegal mining; the risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic; litigation and judicial and administrative proceedings; employee relations, including the loss of key employees; increasing costs and physical risks, including extreme weather events and resource shortages, associated with climate change; and the increased availability and costs associated with mining inputs and labor. Barrick is also warning that its forecast could be affected by the unprecedented business and social disruption caused by the spread of Covid-19. In addition, there are risks and dangers associated with exploration, development and mining activities, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, collapses, floods and gold bullion, copper cathode or gold or copper concentrate. losses (and the risk of inadequate insurance, or the inability to obtain insurance, to cover these risks).

Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in forward-looking statements made by or on our behalf. Readers are cautioned that forward-looking statements are not guarantees of future performance. All forward-looking statements contained in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F / Annual Disclosure Form filed with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and risks that may affect Barrick’s ability to meet the expectations set forth in the forward-looking statements contained in this press release.

Barrick disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

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