About The Gemfield Project

Overview

  • Location: Located ~3 hours from Las Vegas, in the Goldfield Mining District near the town of Goldfield
  • Property: ~15,000 acres and comprised of 563 patented and 586 unpatented mining claims
  • Stage: Feasibility-stage development project (expected to be completed in Q4 2019)
  • Status: Fully permitted for construction and operation. Construction initiated for relocation of U.S. Highway 95
  • Deposits: Three gold deposits: Gemfield, McMahon Ridge and Goldfield Main
  • Mining: Conventional open-pit mining operation
  • Processing: Increased efficiencies through the use of shared processing infrastructure, consisting of 6 M tons per annum conventional heap leach ore processing
  • Exploration Upside: Highly prospective land package with significant exploration upside across the property and numerous targets identified
  • Water: Sufficient water rights for construction and mining requirements. Commenced construction of the infrastructure upgrades required to supply water to the Gemfield Project in partnership with the County of Esmeralda (target completion date Q4 2019)
  • Power: Anticipated low-cost grid power; expected source is existing 60kV NV Energy power line which traverses the site
  • Access: Gemfield is accessible from a major paved highway

Permitting Status

  • In late July and early August 2019, the major federal and state permits for the Gemfield Project were successfully obtained, including:
    • The Record of Decision for the Gemfield EIS
    • The Right-of-Way for the relocation of U.S. Highway 95
    • The Right-of-Way authorizing the upgrade to the County’s water system to facilitate water supply to Gemfield
    • The Water Pollution Control Permit
    • The Reclamation Permit
    • The  Class II Air Quality Operating Permit
    • The Class I Operating Permit to Construct
    • The Mercury Operating Permit to Construct
    • Temporary easements from the Nevada Department of Transportation for the U.S. Highway 95 relocation
    • All ancillary permits for the commencement of key infrastructure developments
  • The completion of Gemfield’s permitting process was aided by the enactment of Secretarial Order 3355, an initiative designed by President Trump’s administration to add efficacy to NEPA processes and generate employment in the country

Key Infrastructure Developments

Gemfield’s fully permitted status enabled the commencement in August 2019 of certain key long-lead infrastructure developments, including the relocation of approximately 2.5 miles of U.S. Highway 95, in partnership with the Nevada Department of Transportation, and the construction of certain water system upgrades required to transport consumptive water to the Gemfield Project in partnership with Esmeralda County

Key infrastructure developments are expected to be completed by no later than Spring of 2020

Proposed U.S. Highway 95 Corridor

Proposed Facilities-Shared New Common Water Infrastructure

Geological Advancement

  • The highly prospective Goldfield District has a high gold endowment with greater than 5.7 Moz Au, which includes in excess of 4.0 Moz Au of historical high-grade production and 1.7 Moz Au of mineral resources. The district encompasses approximately 300 shafts, 100+ underground levels, and 4 open pits from historical workings
  • The Goldfield District has the highest gold endowment for high-sulphidation type gold deposits in North America
  • Drilling across the property has intersected gold mineralization over a 35 sq mile area
  • Key geological features observed across this prolific gold district include:
    • Numerous ore-hosting stratigraphic units
    • Stratigraphic and structural controls on mineralization
    • Large acid-sulfate alteration footprint (50 sq mile)
    • Multiple styles of mineralization
    • Bonanza gold grades
    • District-scale metal zonation