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Copperstone Gold Project
On August 25, 2021, Sabre Gold Mines Corp. (“Sabre Gold”) (TSX: SGLD, OTCQB: SGLDF) (formerly Arizona Gold Corp.) announced that shareholders of both Arizona Gold Corp. and Golden Predator Mining Corp. (“Golden Predator”) (TSXV: GPY, OTCQX: NTGSF) overwhelmingly approved all matters voted on at special meetings of their respective shareholders, including shareholders of Golden Predator approving the proposed merger of Golden Predator and Arizona Gold to form Sabre Gold. The British Columbia Supreme Court issued the final order approving the merger on August 31, 2021. On September 2, 2021, the merger was completed, and Sabre Gold’s common shares commenced trading on the Toronto Stock Exchange with the new trading symbol “SGLD” at the opening of trading on September 8, 2021.
On September 21, 2021, Sabre Gold announced updated mineral resources at Copperstone. These highlights included:
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23% increase in gold ounces in all categories.
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53% increase in Measured Resources to 196,000 gold ounces in 806,000 tonnes at 7.6 g/t.
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45% increase in Inferred Resources to 212,000 gold ounces in 1,124,000 tonnes at 5.9 g/t.
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Underground mapping and sampling confirmed that the mineralized domains occur where previously modelled while drilling continued to demonstrate continuity in mineralization within mineralized domains and delimited some domain edges where step-out holes were drilled.
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Capping of very high-grade intercepts were distinct for each mineralized domain and based on conservative detailed statistical analysis which will provide potential further resource upside.
An updated National Instrument 43-101 – Standards of Disclosure for Mineral Projects Technical Report titled “Updated Mineral Resource Estimate for the Copperstone Project, La Paz County, Arizona, USA” was filed in October 2021, supporting the above noted results.
On October 13, 2021, Sabre Gold provided an update on the pre-construction and engineering activities at Copperstone where production is expected to commence in mid-2022:
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Mine Engineering: Sabre Gold engaged Mine Development Associates of Reno, Nevada to prepare final mine designs and production scheduling. The purpose of this work was to optimize ore sequencing and haulage profiles associated with the new resource model. A full estimation of mining costs and initial capital costs will be completed as well. Underground electrical power needs and infrastructure requirements were completed and incorporated into the overall project schedule.
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Mine Operations: Sabre Gold completed most of the necessary rehabilitation in the first quarter of 2021. Additional pre-production rehabilitation was scheduled for the fourth quarter of 2021 in preparation for the final definition drilling in October and subsequent full mine production in 2022. Several mining contractors had been engaged in a formal tender process in preparation for mine development quotes. A comprehensive list of pre-qualified contractors had been developed and RFQ’s were scheduled to be extended by late October, with final selection in November.
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Mineral Processing: The original flotation circuit has been dismantled and removed to make room for the construction of the new whole ore leach (WOL”) facility. A complete evaluation of the existing infrastructure was performed and included in the project scope.
Detailed engineering of the modifications to the existing mill and expansion of the new WOL facility had been brought to 60% completion by Hanlon Engineering and included initial plant layout, tank and thickener sizing, and a revised capital estimate. Final detailed engineering and plant layout was pending final metallurgical testing derived from the final mine plan.
Long-lead items such as the ball mill feed chute, ball mill liners and a replacement cone crusher had been ordered by Sabre Gold. The Merrill Crowe unit and other WOL plant equipment were ordered in October and will be available for construction later this year and early next year.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2924-tsx-venture/strr/111094-star-royalties-reports-q3-2021-results.html