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United States

Gabbs Project

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Summary

Mine TypeOpen Pit
Study CompletedPreliminary Economic Assessment
Commodities
  • Gold
  • Copper
  • Silver
Mining Method
  • Truck & Shovel / Loader
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SnapshotThe Gabbs Project is a gold-copper asset with a positive Preliminary Economic Assessment (PEA) supporting a long-life, mid-size mine. It has strong infrastructure, including paved highway access and on-site power and water.

The 2025 PEA contemplates heap leach processing as the first phase of operations for the initial 5 years to reduce upfront capital requirements and project risks. In year six, operations will switch to concurrent heap leach processing and mill processing.

Metal process recoveries were increased for the 2025 PEA based on the results of the Phase Three Metallurgical Program.

Expansion and infill drilling will be undertaken next to expand the existing Mineral Resource. Concurrently, additional metallurgical studies will be undertaken to evaluate the recovery of sulphide gold through heap leaching as well as rock characteristic studies to support the filing of a mining plan of operations.
Latest NewsP2 Gold Announces First Drill Results from Infill and Expansion Drilling at Gabbs     December 16, 2025

Owners

SourceSource
CompanyInterestOwnership
P2 Gold Inc. 100 % Indirect
P2 Gold Inc. is the 100% owner of the Gabbs Project.

Contractors

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Deposit type

  • Breccia pipe / Stockwork
  • Vein / narrow vein
  • Porphyry
  • Epithermal

Summary:

Deposit Types
There are four separate mineralized zones known on the Gabbs Property: the Sullivan, Lucky Strike, Gold Ledge and Car Body Zones. The Sullivan, Lucky Strike and Gold Ledge Zones are considered to be gold-copper porphyry deposits, whereas the Car Body Zone is considered to be a low-sulphidation epithermal gold deposit.

Gold-copper porphyry deposits contain many of the geological features of typical copper porphyry deposits. The gold occurs in veinlet stockworks and as disseminations within or immediately contiguous to porphyry stocks. These porphyry stocks are the centre of more extensive hydrothermal systems and may host other types of gold deposits, particularly high- and lowsulphidation epithermal veins. The Car Body Zone is a low-sulphidation deposit on the Gabbs Property. The Paradise Peak Deposit, located on the property south-adjacent to the Gabbs Property, is a high-sulphidation epithermal deposit.

The Gabbs Property exhibits quartz-sulphide Au ± Cu style mineralization, which is characterized by quartz and by pyrite as the main sulphide phase. Quenched, very-fine grained pyrite locally exhibits difficult metallurgy, whereas coarser sulphides are typically associated with the near-surface supergene Au enrichment.

Mineralization
Mineralization and hydrothermal alteration at the Gabbs Property occurs in two principal styles:
1) Porphyry gold-copper-molybdenum mineralization with associated potassic, phyllic and propylitic alteration; and
2) Volcanic-hosted gold-mineralized hydrothermal breccias with associated phyllic and argillic alteration.

There are four separate mineral deposits, three of which (Gold Ledge, Lucky Strike and Sullivan) are considered to be porphyry gold-copper deposits. The Car Body Deposit is considered to be a nuggety epithermal gold deposit.

Porphyry Gold-Copper Mineralization
Porphyry copper deposits are among the largest and most valuable mineral-deposit types on earth and are the most important source of global copper supply. The deposits typically contain hundreds of millions of tons of mineralized rock and millions of tons of copper, with smaller amounts of molybdenum, gold, and (or) silver.

Porphyry copper deposits form in subduction-related magmatic arcs and northern Nye County contains parts of at least three such arcs: 1) Late Triassic to Jurassic age; 2) Cretaceous to Palaeocene age; and 3) Oligocene and Miocene age. Although large porphyry copper deposits are not known in the northern Nye County region, at least two sites provide specific analogues to deposits that may exist. The Royston Deposit is 40 km northwest of Tonopah, on the NyeEsmeralda County line, and the Sullivan Deposit occurs on the Gabbs Property. The Lucky Strike and Gold Ledge Deposits are also considered to host porphyry-style mineralization.

Sullivan, Lucky Strike and Gold Ledge Zones
The Sullivan Deposit, also known as Cuervo, is located approximately four km northeast of the Paradise Peak epithermal gold deposit (Ludington et al., 2009), and is exposed at the surface where the monzonite “sill” outcrops. The Deposit is a vein stockwork hosted in Late Cretaceous monzonite porphyry. The veins contain copper and gold.

Porphyry gold-copper-molybdenum mineralization occurs in two shallow dipping sill-like monzonite porphyry bodies at the Sullivan and Lucky Strike Deposits, and a vertically continuous body, possibly a plug, at Gold Ledge. The “sills” range from 1 to >100m thick and are laterally extensive. Average orientation at Lucky Strike is N46°E dip 25°SE and Sullivan varies from N140°E dip 31°SW (upper contact) to N94°E dip 24°SW (lower contact). The “sills” may be rotated dykes or tectonically emplaced slabs of a porphyry stock.

Porphyry-style mineralization at Gabbs is characterized by stockworks, grain boundary filling and disseminations of early sulphide ± biotite veinlets. These bodies are mostly cut by quartzchalcopyrite “A” veins and less common “B” veins accompanied by potassic alteration (biotite and K-feldspar). Quartz-sericite-pyrite (phyllic) alteration is common and generally accompanied by thick, quartz-pyrite-chalcopyrite-molybdenite “D” veins. Thick, massive to coarsely crystalline, sometimes ribbon-textured, pinching and swelling, mesothermal quartz-chalcopyrite-chalcocite “D” veins occur in monzonite porphyries and in surrounding Triassic metavolcanic and metasedimentary country rocks. Visible gold was observed in one such vein. Late veins of pink manganoan calcite cut mineralized monzonite porphyry in places and selenite (after anhydrite) was observed at Lucky Strike.

Epithermal Gold-Silver Mineralization
Epithermal gold-silver deposits are important sources of gold and silver worldwide (Simmons and others, 2005). They form at depths of <1.5 km depth and temperatures of <300°C, mainly in subaerial hydrothermal systems (Henley and Ellis, 1983; Hedenquist and Lowenstern, 1994). These hydrothermal systems developed in association with calc-alkaline, alkaline and, less commonly, tholeiitic magmatism, generally in volcanic arcs at convergent plate margins, and also in intra-arc, back-arc, and post-collisional rift settings.

Epithermal gold-silver deposits have highly variable characteristics, including mineralized material and alteration mineralogy and gold, silver, and base metal (Cu, Pb, Zn) contents, and formed in diverse geologic environments (Hedenquist and others, 2000; Sillitoe and Hedenquist, 2003; Simmons et. al., 2005). Two principal types of deposits are low-sulphidation deposits (also called quartz-adularia or adularia-sericite type deposits) and high-sulphidation deposits (also called quartz-alunite or acid-sulphate deposits).

Low-sulphidation deposits are common in the western half of northern Nye County and are widespread throughout much of the northern Great Basin. On the Gabbs Property, the Car Body Deposit is an epithermal gold deposit hosted in similar Tertiary volcanic rocks to the Paradise Peak Deposit. Whereas Paradise Peak was a high-sulphidation epithermal gold deposit, Car Body is of the low-sulphidation type. The Gold Ledge area also has potential to contain an epithermal gold deposit.

Car Body Zone
The Car Body Zone at the Gabbs Property is hosted in intrusive, magmatic-hydrothermal breccias. The breccias occur in Miocene upper andesite-dacite and middle rhyolite volcanic and intrusive lithologies best exposed in the adjacent Paradise Peak Mine. Breccia textures were recognised previously in petrographic studies of RC drill hole chips from the Car Body Deposit. Coarse gold is reported in RC drill chips from Car Body. However, the gold values are variable and difficult to reproduce between RC and drill core, which indicates a strong gold “nugget effect”.

Alteration
The Triassic rocks are pervasively metamorphosed to the lower greenschist facies. The metamorphism and alteration in the Property area is mostly localized and largely found to be contact-related near mafic intrusions. Sericitization and local silicification are the alteration type most commonly found in the Triassic rocks. The Triassic volcanic sequence also shows evidence of metasomatism and minor calc-silicate alteration (skarn). This is very apparent in the Lucky Strike area, where the large gabbro complex is exposed. Calc-silicate alteration in this area is characterized by massive epidote, magnetite and minor actinolite localized around intrusive contacts. Elsewhere, the intermediate volcanic sequence is weakly to moderately recrystallized.

Similar to the volcanic sequence, metasomatism also affected the sedimentary rocks, from simple recrystallization to several metres of marblization along the intrusive contacts. The sedimentary rocks appear to lack sufficient calcium carbonate to form true skarn.

Reserves

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Mining Methods

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Required Heavy Mobile Equipment

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Comminution

Crushers and Mills

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Processing

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Water usage

Parameter2025
Fresh water 215 m3/h

Commodity Production

• Heap Oxide recoveries of 85% for gold, 60.0% for silver and 67.0% for copper;
• Mill Sulphide recoveries of 94.5% for gold, 50.0% for silver and 79.9% for copper.
CommodityProductUnitsAvg. AnnualLOM
Gold Payable metal oz 1,545,480 *
Gold Metal in doré oz 109,000 *1,546,640 *
Copper Payable metal t 205,578 *
Copper Metal in concentrate t 15,000 *213,035 *
Silver Payable metal oz 2,394,158 *
Silver Metal in concentrate oz 175,000 *2,480,992 *
Gold Equivalent Metal in doré koz 174 *2,480 *
* According to 2025 study.

Operational metrics

Metrics
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* According to 2025 study.

Production Costs

CommodityUnitsAverage
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* According to 2025 study / presentation.
** Net of By-Product.

Project Costs

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Processing OpEx $M USD 1,680
Refining and transportation $M USD  ......  Subscribe
G&A costs $M USD 92.8
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Personnel

Mine Management

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Workforce

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