BOGO Advances Operations @ the Borealis Heap Leach Gold Mine Borealis Mining (Ticker: BOGO.v) is focused on advancing its operations at the Borealis Heap Leach Gold Mine in Nevada, demonstrating strong growth potential in the competitive gold mining sector.
The company owns 100% of the Borealis Mine, strategically located in the Walker Lane mineral trend, which has historically yielded approximately half a million ounces of gold at an average grade of 2.02 g/t from multiple small pits.
Situated about two hours south of Reno and five hours north of Las Vegas, the Borealis Mine benefits from excellent access to critical infrastructure and a skilled workforce. The site is well-equipped, featuring a leach pad with significant unused capacity and a fleet of mobile equipment, essential for ongoing mining operations.
Borealis Mining achieved a significant milestone with its advanced ADR facility successfully pouring its first gold bars in June 2023, followed by additional pours just a few weeks ago.
The facility is poised to resume processing ore from a stockpile of approximately 350,000 tons of previously mined material. With an expected recovery rate of around 70%, this processing is anticipated to make a substantial contribution to gold production, requiring minimal additional investment.
Borealis' strategic roadmap includes a two-year plan aimed at expanding its resource base, identifying new gold deposits, optimizing metallurgical processes, and restarting small-scale mining operations.
Borealis Mining is employing innovative techniques, such as compiling a 3D Earth model to integrate geophysical and geochemical data, which will inform future exploration activities. The company is particularly focused on areas with historical discoveries and is optimistic about the potential to uncover additional high-grade deposits. Notable historical drill results, including 67 meters at 16.1 g/t gold, underscore the exploration potential within the region.
In addition to organic growth through exploration, Borealis Mining is also exploring potential acquisitions of nearby properties to bolster its resource portfolio. With a robust cash position of $4.5 to $5 million, alongside an additional $3.5 to $4 million in restricted cash, the company is well-equipped to support its growth initiatives.
Overall, Borealis Mining is strategically positioned for growth, leveraging its fully equipped Borealis Mine, strong financial foundation, and an experienced management team. The company’s commitment to expanding its resource base, resuming production, and exploring new opportunities within the Walker Lane trend sets a promising outlook for its future endeavors.
Company website: https://borealismining.com
Posted on behalf of Borealis Mining Company Ltd.