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United States
Mineral Ridge Expansion Project (Mineral Ridge)

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 Location:
52 km SW from Tonopah, Nevada, United States

  Project Contacts:
1910 Idaho St. Suite 102-550
Elko
Nevada, United States
89801
Phone  ...  Subscription required
Fax(775)-753-4780
EmailEmail
WebsiteWeb
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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life7.5 years (as of Jan 1, 2020)
Construction of the new processing facility at Mineral Ridge and recommencement of mining operations is fully permitted.

As at December 31, 2021, the Company had a working capital deficiency of $273,000. Management estimates that these funds will not provide the Company with sufficient financial resources to carry out currently planned operations through the next twelve months.


Owners

Source: p. 1
CompanyInterestOwnership
Scorpio Gold Corp. 100 % Indirect
Scorpio Gold now holds a 100% interest in the Mineral Ridge gold project located in Esmeralda County, Nevada as a result of Titan Mining Corporation’s termination of an earn-in option agreement announced on August 31, 2020.

MRG now has a 100% Project interest, and is a wholly-owned subsidiary of Scorpio Gold.

Contractors

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Deposit Type

  • Orogenic
  • Vein / narrow vein


Summary:

Based on current published explanations for the Mineral Ridge mineralization, it appears that astructurally-controlled orogenic model may be the most applicable to the deposit.

The currently-known mineralized zones occur over an area of approximately 14,000 ft (4,300 m) north south and 15,000 ft (4,600 m) east–west. The gold mineralization at Mineral Ridge is primarily associated with milky quartz veins and lenses accompanied by local argillization and some sericitization. Prior to mining, the individual zones were as much as 50 ft (15 m) thick, typicallyconsisting of a higher-grade quartz veins from five to 30 ft (9 m) thick, surrounded by a lower-grade envelope of mineralization. Two or more highgrade zones are commonly observed stacked in en echelon patterns.

Gold deposition is structurally-controlled, and some of the highest-grade mineralization is found in shoots that are at an oblique angle to the direction of movement of extension. Gold is present as native gold and electrum that occurs as irregular shaped intergrowths in quartz associated with interstitial space and small fractures. Gold also occurs as irregularly-shaped intergrowths and as fracture fillings associated with goethite, much of which was derived from original pyrite. In partially oxidized mineralization, gold occurs with both pyrite and goethite. Gold particle size varies from 1–2 µm to about 700 µm, but most of the particles are in the 5–50 µm size range. Gold to silver ratios are ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

There are two elements to the proposed mining methods for this study. The first area involves the mining of the previously-processed heap leach material and processing it though a milling facility. The second item involves the mining of remnant areas adjacent to existing open pits on the property and sending this material to the new process facility. The milling facility will have a higher gold recovery than the heap leach process, so the remnant areas have become economic to mine.

Production of mineralized material from the heap and pit area is planned at a nominal rate of 4,000 t/d. Due to the timing of building a new pad storage area for the heap leach material, the heap leach material has to be processed before the mining of the pit areas to allow room for the additional material from the open pits. Mining and processing of the heap ore will take a little over five years and mining and processing of the open pit ores will take three years for a total projected mine life of 7.5 years.

LEACH PAD
Mill feed material is derived from moving the previously-processed heap leach material from the existing heap leach to a mill facility, to process and reclaim economic material from the leach material.

No drilling or blasting is anticipated as the reclaim leach material is unconsolidated. All material movement will consist of transporting the reclaim leach material from the existing heap leach pad to the mill facility. A hopper and solution mi ........


Crushing and Grinding
Source: Subscription required

- subscription is required.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Production:

CommodityUnitsAvg. AnnualLOM
Gold koz 32237
Silver koz  ......  Subscription required  ......  Subscription required
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Daily ore mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Plant annual capacity  ......  Subscription required
Daily processing capacity  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

Reserves at December 1, 2020:
Mineral Reserves for the Remnant Areas are reported within the pit designs at a 0.01 opt Au cut-off grade (for Remnant Areas).

Mineral Resources are reported inclusive of Mineral Reserves at a gold cut-off grade of 0.01 opt (for Remnant Areas).

CategoryOreTypeTonnage CommodityGradeContained Metal
Proven In-Situ (OP) 2,474 k tons Gold 0.047 oz/ton 116.2 koz
Probable Leach Pad 7,030 k tons Gold 0.015 oz/ton 103.9 koz
Probable In-Situ (OP) 1,239 k tons Gold 0.032 oz/ton 40.1 koz
Probable Leach Pad 7,030 k tons Silver 0.015 oz/ton 105.4 koz
Proven & Probable Leach Pad 7,030 k tons Gold 0.015 oz/ton 103.9 koz
Proven & Probable In-Situ (OP) 3,713 k tons Gold 0.042 oz/ton 156.3 koz
Proven & Probable Leach Pad 7,030 k tons Silver 0.015 oz/ton 105.4 koz
Measured In-Situ (OP) 2,088 k tons Gold 0.074 oz/ton 155.2 koz
Indicated Leach Pad 7,290 k tons Gold 0.015 oz/ton 107.7 koz
Indicated In-Situ (OP) 1,095 k tons Gold 0.066 oz/ton 72.6 koz
Indicated Leach Pad 7,290 k tons Silver 0.015 oz/ton 109.3 koz
Measured & Indicated Leach Pad 7,290 k tons Gold 0.015 oz/ton 107.7 koz
Measured & Indicated In-Situ (OP) 3,183 k tons Gold 0.072 oz/ton 227.8 koz
Measured & Indicated Leach Pad 7,290 k tons Silver 0.015 oz/ton 109.3 koz
Inferred Leach Pad 78 k tons Gold 0.014 oz/ton 1.1 koz
Inferred In-Situ (OP) 182.9 k tons Gold 0.059 oz/ton 10.73 koz
Inferred Leach Pad 78 k tons Silver 0.023 oz/ton 1.8 koz

Commodity Production Costs:

CommodityUnitsAverage
Total cash costs (sold) Gold USD  ......  Subscription required&nbs
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2020 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2020
Crushing costs ($/ton milled) USD 0.63 *
Processing costs ($/ton milled) USD  ......  Subscription required
G&A ($/ton milled) USD  ......  Subscription required
Total operating costs ($/ton milled) USD  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

2020 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 87.2
Refining costs $M USD  ......  Subscription required
G&A costs $M USD 29.2
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net revenue (LOM) $M USD  ......  Subscription required
EBITDA (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Heavy Mobile Equipment as of December 22, 2020:
HME TypeModelSizeQuantityStatusLeased or
Contractor
Backhoe ....................... Subscription required Existing
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased
Forklift ....................... Subscription required Existing
Grader 14 ft ....................... Subscription required Existing
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased
Rockbreaker ....................... Subscription required Existing
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased
Truck (dump) ....................... Subscription required Existing
....................... Subscription required ....................... Subscription required Proposed Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased
....................... Subscription required ....................... Subscription required Proposed Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 22, 2020
....................... Subscription required ....................... Subscription required Subscription required Dec 22, 2020
....................... Subscription required ....................... Subscription required Subscription required Nov 4, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2020

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
Feasibility Study Report 2018
Management Discussion & Analysis 2018
Press Release 2018
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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