Last month, Borealis Mining Company Limited (Ticker: BOGO.v), an exploration-focused gold mining company, achieved significant operational and strategic milestones at its Borealis Mine in Nevada, positioning itself for continued momentum as we enter November.
The company, known for its fully permitted heap leach operation and its extensive property spanning over 15,020 acres, completed its second gold pour of 2024 in early October, producing dor bars with approximately 229 troy ounces of gold and 162 troy ounces of silver.
This pour, sourced from residual leaching, concludes BOGO's processing of previously treated ore, with future pours to be derived from fresh, un-leached ore. Borealis has begun applying fresh cyanide to unprocessed sections of the leach pad, which is expected to increase gold yield in upcoming pours.
By generating revenue directly from its heap leach operations, Borealis strategically avoids share dilution, preserving shareholder value as it works to develop its under-explored property.
This planned transition to untreated ore is anticipated to enhance gold content and further revenue potential. The company’s commitment to steady production is bolstered by favorable gold prices and the work of Borealis’ engineering and geology teams, who are exploring a full mine restart plan.
In addition to this operational progress, Borealis expanded its reach by listing on the Frankfurt Stock Exchange under the ticker L4B0, providing European investors with easier access to its shares.
However, Borealis progress in October did not stop here. Last week the company also broadened its land position by acquiring 3.66 additional square miles through claim staking, enhancing its presence within one of Nevada’s largest hydrothermal alteration zones.
These new claims, located east of Borealis’ existing claims, hold significant historical drill intercepts and surface sampling results, showcasing potential for further oxide gold deposits.
Overall, Borealis' recent advancements solidify its strategic path toward expanded production and resource development.
These decisive steps enhance Borealis’ position as it transitions to new ore sources, strengthens revenue potential, and bolsters its capacity to meet increasing demand in the gold sector.
Full news here: https://borealismining.com/news
Posted on behalf of Borealis Mining Company Ltd.