Borealis Mining (TSX-V:BOGO) has completed the first pour of gold and silver doré from the stockpile crushing and heap leaching at its namesake mine in Nevada, US.
A total of 65.6 pounds, equivalent to 956.7 troy ounces of doré, were poured in two bars. The doré has been sent to Asahi Refining in Salt Lake City, Utah, for refining and eventual sale.
Borealis is awaiting assay results from the pour to determine the grade and value of the doré. Preliminary results indicate a roughly 50:50 ratio of gold and silver, plus some additional waste metal.
COO Andreas Steckenborn says the pour represents the first genuine gold and silver production from fresh oxide material that the company has crushed, trucked to the leach pad and treated with cyanide.
“We’ve spent an immense amount of time and effort over the past two years optimising our operations and training and the result was a perfectly executed pour,” Steckenborn says.
“Our carbon columns are well loaded with gold and silver for the next pour, which should occur in the next few weeks.”
Steckenborn notes steady revenue is expected for the next several months, which the company intends to grow upon with the upcoming start of the Borealis Mine.
Heap leaching crushing of the stockpile of oxide material is continuing, with 106,00 tonnes being treated with cyanide solution and another 34,000 tonnes crushed and not yet subject to heap leaching.
Gold and silver is actively being collected in the company’s carbon columns and the company expects its next pour in several weeks.
The Borealis Mine was first discovered in 1978, with initial production totalling 500,000 ounces at 2.02 grams per tonne gold during 1981 and 1990.
Gold prices climbed above $3,800 per ounce for the first time ever yesterday afternoon, driven by a weaker dollar and growing expectations of further US rate cuts.
As Mining.com.au previously reported, gold has broken several records as markets are currently pricing in a 90% chance of a rate cut in October 2025, and about a 65% probability of an additional move in December, according to Trading Economics.
Write to Aaliyah Rogan at Mining.com.au
Images: Borealis Mining
