Vancouver-based Borealis Mining (TSX-V:BOGO) has poured first gold for 2024 at its namesake mine in Nevada as the price of the safehaven metal continues to hover above US$2,500 ($3,686) an ounce.
The gold was poured at the company’s adsorption, desorption, and refining (ADR) plant on site to produce doré bars weighing 651 troy ounces containing 21.968% gold and 20.169% silver, for about 143 troy ounces of gold and 131 troy ounces of silver.
This was achieved through stripping of 2.5 of 10 carbon columns, which were loaded from residual leaching with a highly dilute cyanide solution.
Borealis, which has a market capitalisation of C$65.7 million ($71.7 million), says in the near term it plans to strip the remaining 7.5 carbon columns and then introduce fresh cyanide to a section of the leach pad which has previously not been leached.
This is expected to result in a higher gold percentage doré compared to the material generated through residual leaching.
The doré will then be processed and refined off site in Salt Lake City for sale to market.
Borealis completed previous gold pours in February, June and August 2023 from residual leaching.
CEO Kelly Malcolm says gold pours will now increase in frequency as Borealis strips the remaining carbon columns and starts to put fresh cyanide on the leach pad.
“We are also in the process of seeking contractors to crush our ~330,000 ton stockpile of ore, which should also generate meaningful gold production,” she says.
“Borealis is unique to many of our peers in the junior exploration sector, in that we are revenue generating and control a fully permitted mine and ADR facility.”
The Borealis Mine was discovered in 1978, with initial production starting in 1981 and continuing through to 1990, delivering 500,000 ounces @ 2.02 grams per tonne gold from eight near-surface open-pit oxide deposits.
Minor production restarted and was carried out from 2011-2013 and 2021-2022 producing 125,000 ounces.
The operation spans a 14,600 acre land package in the Walker Lane Gold Trend, which has an endowment of over 50 million ounces of gold.
Borealis also announced the appointment of Lisanna Lewis as its new CFO, replacing Mike Dai.
Write to Angela East at Mining.com.au
Images: Borealis Mining
