In the latest episode of Stock Talk on the KE Report, Quinton Hennigh, Geologist, Private Investor and Geologic Consultant to Crescat Capital detailed his thoughts on Borealis Mining (BOGO.v), a newly listed TSX Venture Exchange company who acquired the Borealis Mine in Nevada, starting at 16:26:
https://www.youtube.com/watch?v=QY4Ij9P5M7A Location and Geological Context
- Located in the Walker Lane district, a well-known mineral-rich area in western Nevada, near the border of California.
- Historical 2011 resource estimate of 1.8 million ounces of gold, with potential for significant expansion.
- Permitted heap leach gold mine with a processing facility.
- No exploration since 2012, and no regional exploration since 2008.
Historic Operations and Mining Characteristics
- Historically produced from oxidized gold deposits, which are highly amenable to heap leaching
- High-sulfidation system which typically form both low-grade blanket-like deposits near the water table and higher-grade feeder zones that extend downwards.
- On-and-off mining operations, with an emphasis on oxidized materials.
- Current focus includes exploring both oxide and sulfide mineralization.
Exploration and Production Potential
- High-grade intercepts, including 16 grams per ton at significant depth, suggest potential for economic viability if further mineralization is found.
- Shifting towards exploration to discover high-grade zones, aiming for grades that could support profitable mining operations, especially with sulfide materials.
Current Production and Financial Considerations
- Currently pouring gold from minor production on the leach pad, generating cash flow.
- Despite this cash flow, the real value lies in future exploration success. Investors should view this as an exploration-focused company aiming to uncover significant new mineralization.
With infrastructure in place, ongoing revenue from its gold production and drill results incoming, BOGO is poised for growth as targets the expansion of its resource and identification of new deposits.
Posted on Behalf of Borealis Mining Company Ltd.