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United States
Midas Mine (Nevada Operation)

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 Location:
95 km NW from Elko, Nevada, United States

  Address:
6500 North Mineral Drive Suite 200
Coeur d’Alene
Idaho, United States
83815-9408
Phone  ...  Subscription required
Fax208-769-7612
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Overview

StatusInactive / Suspended
Mine TypeUnderground
Commodities
  • Gold
  • Silver
Mining Method
  • Cut & Fill
  • Longhole stoping
  • Cemented backfill
Production Start...
Midas mine was acquired by Hecla Mining in July 2018. Mine's production and financial results have been included into the Nevada Operations Segment since then.

Production at the Midas mine was suspended in late 2019.


Owners

Source: p. 147
CompanyInterestOwnership
Hecla Mining Company 100 % Indirect
Klondex Midas Operations Inc. is an indirect subsidiary of the Hecla Mining Company.

Contractors

Subscription required - Subscription is required.


Deposit Type

  • Vein / narrow vein
  • Epithermal


Summary:

On a general scale, the hydrothermal system and subsequent mineralization developed at Midas is currently interpreted as a low sulfidation, epithermal precious-metal vein system, as part of a larger magmatic system at depth.

The Midas Mine is the largest known Au-Ag epithermal deposit along the Northern Nevada Rift (“NNR”) and is located, located in the mining district of Midas, also known as the Gold Circle district.

The Midas deposit consists of a series of complex steeply dipping, quartz-calcite-adularia precious metal veins hosted by volcanic and volcanoclastic rocks and locally contains mineral grades greater than (>) ten ounces per ton (opt) of gold. Gold mineralization occurs as electrum and is intimately associated with selenide and sulfide minerals. It belongs to a suite of middle Miocene low-sulfidation epithermal gold and silver mineralizing systems associated with magmatism and faulting along the NNR (Leavitt et al., 2004). The mineralization model at Midas is a shallow, low-sulfidation, vertically- and laterally-zoned, epithermal gold-silver system. Rocks in the Midas district are primarily ash flow, air-fall and lithic tuffs, felsic plugs, volcanoclastic sediments and gabbroic sills and dikes.

Gold and silver mineralization at Midas is hosted in several north-west striking veins. The veins are divided into four principle groups based on their location and orientation. The two groups hosting mineral resources are the Main Veins ........


Mining Methods

  • Cut & Fill
  • Longhole stoping
  • Cemented backfill


Summary:

Longitudinal sublevel (longhole) stoping has historically been the primary mining method for the five narrow Main Veins at Midas as well as the East Veins, including 905, 9052, and 805. From the portal, there are three major haulages that access these veins through eight different spirals. Generally, upper and lower sections of the same spiral connect only through ventilation/escape raises. All mineralized material produced is hauled out of the portal in trucks to a temporary stockpile where it is loaded onto a surface haul truck and delivered to the on-site mill.

Mine development is controlled by geological conditions in the area. For the sublevel stoping method, sill development is driven at a nominal seven feet wide by twelve feet high to accommodate the size of longhole drills and two-cubic yard (yd3) loaders. Where the vein thickness is wider than six feet, the sill width is increased to capture the entire vein. Sills are typically driven 600 feet north and south from the spiral cross cut. Once sills are developed, stoping begins. Stopes are drilled with a longhole drill from the floor of one level to the back of the one below, then remote mucked from the bottom level, and finally backfilled from the top level.

Typically, the mineralized material is divided into stope blocks of about four levels for development, or 200 feet vertically. Stoping begins by creating a cemented backfill barrier pillar at the bottom level of the mineralized material bloc ........


Crushing and Grinding
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Processing

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Summary:

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Production:

CommodityUnits2017201620152014
Gold oz 34,34329,82428,83819,058
Silver oz  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Gold Equivalent oz  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics20182017201620152014
Daily milling capacity 1,200 tons1,200 tons1,200 tons1,200 tons
Ore tonnes mined 156,927 tons193,856 tons175,173 tons
Tonnes milled 157,363 tons190,982 tons174,714 tons116,889 tons
Daily milling rate 523 tons479 tons320 tons

Reserves at December 31, 2022:
Midas mineral resources are reported at a gold equivalent cut-off grade of 0.237 oz/ton. Metallurgical recoveries: 90% for gold and 70% for silver. A gold-equivalent cut-off grade of 0.1 oz/ton and a gold price of $1700/oz used for Sinter Zone with resources undiluted.

CategoryTonnage CommodityGradeContained Metal
Measured 2 k tons Gold 0.68 oz/ton 1 koz
Measured 2 k tons Silver 7.6 oz/ton 14 koz
Indicated 76 k tons Gold 0.42 oz/ton 32 koz
Indicated 76 k tons Silver 5.7 oz/ton 430 koz
Measured & Indicated 78 k tons Gold 0.43 oz/ton 33 koz
Measured & Indicated 78 k tons Silver 5.7 oz/ton 444 koz
Inferred 1,232 k tons Gold 0.5 oz/ton 615 koz
Inferred 1,232 k tons Silver 6.3 oz/ton 7,723 koz

Commodity Production Costs:

CommodityUnits20172016
Cash costs (sold) Gold Equivalent USD 1,008 / oz   981 / oz  
Cash costs (sold) Gold USD
† Net of By-Product.

Operating Costs:

Units2016
UG mining costs ($/ton mined) USD 221

Financials:

Units20172016
Capital expenditures M USD 16.3   23.8  
Revenue M USD 59.6   63.8  
Operating Income M USD -8.8   -5.1  



Heavy Mobile Equipment as of March 31, 2015:
HME TypeModelSizeQuantity
Drill jumbo (single boom) ....................... Subscription required ....................... Subscription required
Drill jumbo (two boom) ....................... Subscription required
Drill jumbo (two boom) ....................... Subscription required ....................... Subscription required
Grader ....................... Subscription required ....................... Subscription required
Grader ....................... Subscription required ....................... Subscription required
Loader ....................... Subscription required 2 cu. yd ....................... Subscription required
Loader ....................... Subscription required 6 cu. yd ....................... Subscription required
Loader ....................... Subscription required ....................... Subscription required
Loader ....................... Subscription required ....................... Subscription required
Truck (haul) ....................... Subscription required ....................... Subscription required
Truck (haul) ....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Feb 27, 2023
Subscription required - Subscription is required.

Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required 2021
Subscription required 2020
Subscription required 2019
Subscription required 2018
Subscription required Subscription required Subscription required 2017
Subscription required Subscription required Subscription required 2016

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2023
Press Release 2023
Form 10-K 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
Form 10-K 2018
Press Release 2018
Year-end Mineral Reserves 2018
Form 10-K 2017
Year-end Mineral Reserves 2017
Corporate Presentation 2016
Form 10-K 2016
Year-end Mineral Reserves 2016
Management Discussion & Analysis 2015
Pre-Feasibility Study Report 2015
Management Discussion & Analysis 2014
Management Discussion & Analysis 2014
Pre-Feasibility Study Report 2014
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