Borealis Mining (TSXV: BOGO) is an emerging company recently listed on the TSX Venture Exchange, with a strategic focus on restarting its fully permitted Borealis heap leach gold mine in Nevada. Nevada is recognized as one of the top mining jurisdictions globally, offering a favorable environment for the company's ambitious growth plans.
The Borealis Mine is a historically productive site, having previously yielded approximately 625,000 ounces of gold at an average grade of 1.77 g/t. Currently, the mine is equipped with an operational processing facility, and its leach pad is actively generating gold from minor mining activities conducted between 2021 and 2022. With 4.2 million tons of leach pad space available before any expansion is required, Borealis Mining is well-positioned for a rapid operational ramp-up.
A significant stockpile of high-grade oxide material further enhances the site's potential. The company's immediate focus includes expanding its resource base through a targeted 3,500-meter drill program. This program is directed at both increasing the oxide resources and exploring high-grade high-sulphidation epithermal sulfides at depth.
The Borealis property is home to two types of mineralization: surface oxides and deeper, high-grade sulfides. Despite the site's historical production, it remains underexplored, with minimal drilling since 2012. Previous exploration efforts have delivered promising results, including intercepts of 67.1 meters at 6.1 g/t Au, 56.4 meters at 6.5 g/t Au, and 115.8 meters at 4.5 g/t Au. These results underscore the significant exploration potential that Borealis Mining aims to unlock.
Looking forward, Borealis Mining anticipates several key developments, including drill results, production-related announcements, and potential acquisitions. These future initiatives are supported by the company's $5 million in unrestricted cash, $4 million in restricted cash, and $2 million in ready-to-pour gold inventory.
To provide more insights into these initiatives and engage with current and prospective investors, the company is hosting a webinar tomorrow, August 15th, at 1:05 PM PT / 4:05 PM ET.
Registration here
https://event.on24.com/wcc/r/4672162/5E5CF504F45982740592A6C494B638FD
Posted on behalf of Borealis Mining Company Ltd.