SSR Mining (ASX:SSR) reports it has received positive exploration results following a drilling campaign at the Marigold Mine in Nevada, US.
The results, generated by 316 drillholes undertaken at the New Millennium, Trenton Canyon, and Buffalo Valley oxide targets, are reported to build upon, and are subsequent to, the Marigold 2021 Technical Report Summary (TRS).
The results deliver potential to drive Mineral Reserve and Mineral Resource growth that can be incorporated into an updated TRS for the Marigold Mine, which is expected in 2023.
It is also reported that numerous intercepts were gathered above Marigold’s existing Mineral Reserve grade and demonstrate that mineralisation was encountered more than 500m south of the previously defined Mineral Resources.
Key results from the New Millennium oxide drilling include: 25.9m at 4.2g/t Au from 117.3m (MRA7621) and 16.8m at 2.7g/t Au from 120.4m (MRA7623).
Exploration at the Marigold mine is focused on adding ‘higher grade’ oxide ounces to the mine plan in order to both enhance and extend the current production profile and life of mine free cash flow regeneration.
Commenting on the results, SSR Mining President and CEO, Rod Antal says: “These results showcase exceptional oxide grades that have potential to drive Mineral Reserve and Mineral Resource growth and complement the existing Marigold production profile.
“These results showcase exceptional oxide grades that have potential to drive Mineral Reserve and Mineral Resource growth and complement the existing Marigold production profile”
We expect to include some of this higher-grade oxide material in the 2023 Marigold TRS, which we anticipate will demonstrate an optimised and expanded production profile through the incorporation of New Millennium.”
The company also notes that the potential development of the New Millennium oxide target was unlocked by recent brownfield strategic land acquisitions and presents an opportunity to deliver ‘higher grade’ oxide Mineral Reserves and Mineral Resources proximal to existing Marigold infrastructure.
In addition, SSR Mining also reports its exploration for supplemental oxide ore sources across the broader Marigold land package is still continuing, with drilling at Trenton Canyon and Buffalo Valley delivering ‘high-grade’ intercepts of up to 11g/t Au oxide mineralisation.
SSR Mining is a leading, free cash flow focused intermediate Au company with 4 producing assets located in the USA, Turkey, Canada and Argentina, combined with a global pipeline of high-quality development and exploration assets. The company’s Marigold operation is located in Humboldt and Lander County within the state of Nevada, US and was acquired by the company on 4 April 2014. The operation represents a large run-of-mine heap leach operation with several open pits, waste rock stockpiles, leach pads, a carbon absorption facility and a carbon processing and Au refining facility.
SSR Mining announces work is currently ongoing to delineate and define initial sulphide resources at each target in order to deliver potential longer-term development opportunities for the Marigold Mine.
Images: SSR Mining Inc & iStock
