BOGO Secures New Nevada Gold Asset w/ GBRC.v Acquisition Earlier this week, Borealis Mining (BOGO.v) announced a definitive agreement to acquire Gold Bull Resources (GBRC.v), marking a major step in expanding its Nevada-focused gold portfolio. The acquisition bolsters Borealis’ holdings with near-term, high-quality gold assets, positioning the company as a potential mid-tier producer.
The deal includes significant exploration upside through Gold Bull’s underexplored Sandman and Big Balds projects, further enhancing Borealis’ portfolio. The centerpiece of this acquisition, the Sandman Project, is located 30km northwest of Winnemucca, Nevada, and hosts a resource of 494,000 ounces of gold with considerable room for expansion.
According to the 2023 Preliminary Economic Assessment (PEA), Sandman is expected to produce 38,000 ounces of gold annually over a nine-year mine life, with a rapid payback period of 1.3 years based on a gold price of $1,800 per ounce.
Its heap leach processing design aligns seamlessly with Borealis’ existing ADR facility at its flagship Borealis Gold project, minimizing capital costs and streamlining permitting requirements. By leveraging its established infrastructure, Borealis aims to reduce expenses and boost project profitability.
Borealis’ CEO, Kelly Malcolm, highlighted the strategic importance of this acquisition, citing Sandman’s favorable location, strong economic fundamentals, and substantial exploration potential. He outlined plans to confirm metallurgical results, advance feasibility studies, and accelerate the project toward production.
Gold Bull’s CEO, Cherie Leeden, expressed confidence in Borealis’ ability to develop Sandman and noted that the merger also provides Gold Bull shareholders exposure to Borealis’ fully permitted and near-production Borealis Mine.
For more details, visit https://borealismining.com/2024/12/borealis-mining-announces-acquisition-of-gold-bull-resources/
Posted on behalf of Borealis Mining Company Ltd.