Borealis Mining's (TSXV: BOGO) recent webinar highlighted their Borealis Heap Leach Gold Mine in Nevada. President and CEO, Kelly Malcolm, provided an in-depth overview of BOGO's operations, financial status, and future plans, emphasizing the company’s growth potential and strategic objectives.
The Borealis Mine, situated in the Walker Lane mineral trend in Nevada, is 100% owned and fully equipped for operations. Historically, it produced around half a million ounces of gold at an average grade of 2.02 g/t from eight small pits.
The mine's location, approximately two hours south of Reno and five hours north of Las Vegas, offers excellent access to infrastructure and a skilled workforce. The site is also well-equipped with significant infrastructure, including a leach pad with ample unused capacity and mobile equipment.
In June 2023, the mine's state-of-the-art ADR facility poured its first gold bars. This well-maintained facility is now set to resume processing ore from the existing stockpile, which contains ~350,000 tons of previously mined material. With an expected recovery rate of about 70%, this processing could lead to significant gold production with minimal additional investment.
BOGO has outlined a two-year plan focused on expanding its resource base, identifying new gold deposits, optimizing metallurgical processes, and resuming small-scale mining operations.
As part of these efforts, BOGO has initiated a 3D Earth model compilation to integrate geophysical and geochemical data, which will guide future exploration activities. The company is particularly interested in areas with previous discoveries and is optimistic about uncovering additional high-grade deposits. Historical drill results, such as 67 meters at 16.1 g/t gold, highlight the substantial exploration potential.
BOGO aims to grow through both the drill bit and potential acquisitions of nearby properties. Supporting these plans is BOGO's $4.5 to $5 million cash position, and additional $3.5 to $4 million in restricted cash.
Overall, the presentation displays how well-positioned BOGO is for growth with its fully equipped Borealis Mine, strong financial standing, and experienced management team. The company’s focus on expanding its resource base, resuming production, and exploring new opportunities within the Walker Lane trend sets the stage for a promising future.
Full webinar replay here: https://event.on24.com/wcc/r/4672162/5E5CF504F45982740592A6C494B638FD
Posted on behalf of Borealis Mining Company Ltd.