Phoenix is a skarn-hosted polymetallic massive sulfide replacement deposit.

Au-Cu-Ag-Pb-Zn skarn mineralization at Phoenix is centered about the Eocene Copper Canyon granodiorite porphyry stock. Paleozoic sedimentary rocks within two miles of the stock have undergone strong thermal metamorphism (hornfels) and metasomatism (skarn). Metal zonation is manifest by a CuMo core close to the stock grading outward into proximal Cu-Au-Ag, Au-Ag and distal Pb-Zn-Ag mineralization.

The Phoenix Project site lies within the Basin and Range physiographic province and is composed of two relatively flat valleys and steep-sided ranges with approximately 3,700 feet of relief. Elevations range from approximately 4,520 feet along the Reese River to 8,232 feet at Antler Peak. The mountains serve as hydrologic divides that separate drainage basins. The mountain flanks are deeply incised in places, and the resulting canyons collect and discharge runoff to creeks and alluvial fans. The valley floors grade toward the Reese River and Buffalo Valley Playa.

Quaternary alluvial deposits cover most of the valley floors and lower drainage basins. In general, the alluvium fan away from the mountain fronts, with the coarsest material having accumulated in upper alluvial fan deposits and the finest material being deposited in the center of the valleys away from the mountain front. The valley fill in many basin and range valleys in Nevada can be more than 3,000 feet thick.

Phoenix is an open pit truck and shovel operation. Phoenix operation is located approximately 10 miles south of Battle Mountain, Nevada and can be accessed by paved highway to a Newmont maintained dirt road. It includes the Phoenix, Midas, Reona, and Iron Canyon open pits and excavation of the existing Northeast Extension, Tomboy, Midas, and Fortitude gold ore stockpiles.

The Phoenix currently involves the mining of the Phoenix and Iron Canyon open pits.

The Phoenix open pit is a lateral and vertical expansion of the existing Fortitude, Midas, Reona, Minnie, and South Canyon/Bonanza pits, which have already penetrated groundwater. Once mining is completed, dewatering operations will cease and groundwater will rebound to pre-mining static elevations.

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A multi-stage gold, silver, and copper ore beneficiation facility comprised of the following:

- A crushing and grinding circuit for size reduction.
- A gravity separation facility and a dedicated cyanide leaching facility for gold and silver.
- A three-stage flotation circuit for concentrating copper, gold, and silver, followed by filtration for shipment and subsequent off-site processing.
- A cyanide vat leaching circuit followed by carbon-in-pulp (CIP) circuit for beneficiating the remaining ore fraction and production of a precious metal doré through carbon stripping, electrowinning, and retorting that will be transported off site for further refining.
- Run-of-mine (ROM) copper heap leaching operation (Phoenix Copper Leach Project) consisting of two ROM copper HLPs (Phoenix and Reona) and a solvent extraction and electrowinning (SX-EW) facility.

Mill produces Concentrate and Dore. Concentrate accounts for 60-70% of gold production and ........