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United States
Sleeper Project

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 Location:
47 km NW from Winnemucca, Nevada, United States

  Project Contacts:
665 Anderson Street
Winnemucca
Nevada, United States
89445
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Overview

StagePreliminary Economic Assessment
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life8 years (as of Jan 1, 2017)


Owners

Source: p. 7
CompanyInterestOwnership
Paramount Gold Nevada Corp. 100 % Indirect
Sleeper Mining Company LLC 100 % Direct
Paramount Gold Nevada Corp. wholly owned subsidiaries include New Sleeper Gold LLC and Sleeper Mining Company, LLC, which holds interest in the Sleeper Project.

Contractors

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Deposit Type

  • Breccia pipe / Stockwork


Summary:

The Sleeper deposit is located on the western foothills of the Sleeper range, in NW Nevada. It consists of an epithermal Au-Ag vein system controlled by an extension-related system of NW, NS and bed-parallel structures affecting stratified rocks.

Bed parallel structures related to the base of the rhyolite porphyry and the contact also act as control for Lower grade, disseminated mineralization.

NW structures act as discontinuities for the main N-S veins, as well as hosts for lower grade mineralization.

Four main types of gold mineralization are found within the Sleeper deposit and may represent a continuum as the system evolved from a high level, high sulphidation system dominated by intrusion related fluids and volatiles to a low sulphidation meteoric water dominant system (Corbett, 2005, Utterback, 2005, Histed, 2005). In this setting the paragenetic relationships of the differing mineralization styles are as follows:
* Early - quartz-pyrite-marcasite stockwork
* Intermediate - medium-grade, silica-pyrite marcasite cemented breccias localized on zones of structural weakness
* Late - high-grade, banded, quartz-adularia-electrum-(sericite) veins
* Post - alluvial gold-silver deposits in Pliocene gravels.


Mining Methods

  • Truck & Shovel / Loader


Summary:

The Sleeper Gold Property is located in Desert Valley and the adjoining Slumbering Hills, Awakening Mining District, Humboldt County, Nevada, U.S.A. The Sleeper Project represents an opportunity as a mine that might be put back in to operation in the current gold price environment.

On March 26, 1986 AMAX poured its first gold bar from the Sleeper Gold Property The Sleeper operation was designed to treat oxide mineralization by both milling and heap leaching. There was no flotation circuit in the mill to recover gold bearing sulphides. The early pit mill feed was oxide material, but zones of sulphide mineralization were present in the pit. Reported gold production from the mill was 1,219,880 ounces and 438,609 ounces from heap leaching. Silver production totaled approximately 2.3 million ounces. The mine ceased production in 1996.

The Sleeper gold-silver deposit represents a project with a great deal of potential for being an important gold producer in Nevada once again.

Existing infrastructure at the Sleeper mine site will require upgrades for the projected large mine configuration, however, the basic components remain in place. The site is currently connected to the regional electrical grid, although substantial capacity upgrade would be required. Gravel road access, connecting the Sleeper mine site to paved, all weather Highways 140 and 95 is in place.

According to 2017 PEA The mining operation was assumed to employ conventiona ........


Crushing and Grinding


Processing

Source: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold oz 92,400752,245
Silver oz  ......  Subscription required  ......  Subscription required
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Daily milling rate 26.6 kt of ore *
Stripping / waste ratio 0.72 *
Daily mining rate 46.2 kt *
Daily ore mining rate 26.6 kt *
Waste tonnes, LOM 55,877 kt *
Ore tonnes mined, LOM 77,609 kt *
Total tonnes mined, LOM 133,485 kt *
Tonnes processed, LOM 77,609 kt of ore *
* According to 2017 study.

Reserves at September 25, 2017:

CategoryTonnage CommodityGradeContained Metal
Measured 209,464 kt Gold 0.35 g/t 2,354 koz
Measured 209,464 kt Silver 0.35 g/t 21,823 koz
Indicated 87,662 kt Gold 0.28 g/t 789 koz
Indicated 87,662 kt Silver 2.5 g/t 7,065 koz
Measured & Indicated 297,126 kt Gold 0.33 g/t 3,143 koz
Measured & Indicated 297,126 kt Silver 3 g/t 28,888 koz
Inferred 148,844 kt Gold 0.31 g/t 1,488 koz
Inferred 148,844 kt Silver 1.4 g/t 6,698 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold Equivalent USD 529 / oz *  
Total cash costs Gold Equivalent USD 869 / oz *  
Assumed price Silver USD 16 / oz *  
Assumed price Gold USD 1,250 / oz *  
* According to 2017 study / presentation.

Operating Costs:

Units2017
OP mining costs ($/t milled) USD 2.41 *
Processing costs ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2017 study.
Subscription required - Subscription is required.

2017 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Mining Taxes $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 0% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Proposed Heavy Mobile Equipment as of September 25, 2017:
HME TypeSizeQuantity
Dozer ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 20, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Management Discussion & Analysis 2022
Preliminary Economic Assessment 2017
Preliminary Economic Assessment 2015
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