The famed and historic Cripple Creek mining complex sits 60 kms away from Durango as the crow flies.
MMG's La Plata project is 26 kms northwest of Durango where the Durango-La Plata airport is situated.
NEM sold their operations to SSR mining in December 2024 for $275 m USD's.
Reserve grades are 0.53 g/t Au
M+I resource is 0.40 g/t Au
3.2 million oz of gold reserves,M+I+I
The richest gold mine in Colorado history
As of 1988, the Cripple Creek district had produced some 653 tonnes of gold and at least 60 tonnes of silver.
Anglo Ashanti and NEM have operated the large -s cale open pit Cresson Mine for over 30 years although NEM states the first large-scale production began in 1976.
322,000 annual ounces of gold production in 1995 when NEM took over the operation from Anglo.
NEM produced 182,000 oz of gold in 2024.
La Plata Project Highlights - Surrounding the central porphyry system is an associated high-grade silver and gold-rich epithermal system measuring at least 8 km by 2 km that hosts 56 identified vein, replacement, and breccia structures.
- Historical production from some of these high-grade structures exceeded 1,000 grams per tonne (“g/t”) silver and over 15 g/t gold with some of the richest deposits delivering true bonanza grades for silver and gold.
At the Company’s La Plata project in southwestern Colorado, the expanded 2023 NI 43-101 mineral resource estimate highlights a significant porphyry copper-silver resource containing 1.2 Blbs copper and 17.6 Moz of silver, with numerous additional targets showing potential for a district-scale porphyry system. In May 2023, the Company announced a 9.5% strategic investment by Newmont Corporation.