United States

Mineral Ridge Expansion Project

Click for more information

Categories

Overview

Mine TypeOpen Pit
StagePermitting
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
ShapshotConstruction 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.
Related AssetMineral Ridge

Owners

SourceSource
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.

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 typically in the 2:1 range. Locally, minor amounts of galena, graphitic to carbonaceous material, sphalerite and anglesite/cerrusite have been observed, with galena and graphite appearing to be associated with higher-grade gold values.

Much of the known mineralization has been mined out in the Drinkwater, Mary LC, Wedge A, B, C, and D, Bluelite, Solberry, Missouri, Brodie, and underground portion of the Oromonte areas. Five areas of remnant mineralization adjacent to the Drinkwater, Mary LC, Bunkhouse Hill, and Brodie open pits are considered to remain prospective for remnant open pit mining, as is the Custer area, which has no open pit mining history, situated to the southeast of Bunkhouse Hill. Four of these areas are on the eastern, Drinkwater, side of the Mineral Ridge antiform (Drinkwater, Mary LC, Bunkhouse Hill, Custer), and two, Oromonte and Brodie, are on the western limb of the antiform.

Drinkwater
An area remains to the northwest of the Drinkwater deposit, and currently forms the highwall of the Drinkwater pit. The mineralized zones in the Drinkwater deposit strike northwest–southeast and dip about 20–25º to the northeast. Mineralized zones are irregular in shape, and have variable thicknesses. In the Drinkwater remnant area, there is a thick sequence of waste material that will require pre-stripping to access the mineralized horizon.

Mary LC ( Mary LC Phase 4 Pit)
The Mary LC deposit is located about 500 ft southeast of the Drinkwater deposit. The stratigraphy and mineralized horizons dip to the northeast at approximately 25º. The fourth proposed pit phase would extract mineralization contained in a zone on the northwest pit highwall.

Bunkhouse Hill
Geologically, the Bunkhouse Hill target is the immediate down-dip extension of the mineralization present in the Mary LC pit. The mineralization at Bunkhouse dips at about 39º NE, which is incontrast to the more typical 25–30º NE dip of the Mary LC mineralization. This dip change is spatially related to a change in geology, whereby the mineralized zone transitions from being hosted in felsic intrusive rocks to being hosted in Wyman Formation sedimentary rocks.

Custer
The Custer zone is situated south of the Mary open pit and the Bunkhouse Hill area. Structurally, Custer is very similar to the Drinkwater deposit, having far less of the post-mineral faulting and folding that was predominant in the Mary and Last Chance deposits.

Brodie (Brodie Phase 2 Pit)
Mineralization at Brodie is more flat-lying than mineralization at Drinkwater and Mary.

Oromonte
Mineralization at Oromonte is located north of the Brodie pit area. Mineralization occurs in a downdropped block located between the mined-out Solberry and Wedge pits.

Reserves

Lock

- subscription is required.

Mining Methods

Lock

- subscription is required.

Comminution

Crushers and Mills

Lock

- subscription is required.

Processing

Lock

- subscription is required.

Production

CommodityUnitsAvg. AnnualLOM
Gold koz 32237
Silver koz 3.425
All production numbers are expressed as metal in doré.

Operational metrics

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

Production Costs

CommodityUnitsAverage
Total cash costs (sold) Gold USD  ....  Subscribe
Assumed price Silver USD  ....  Subscribe
Assumed price Gold USD  ....  Subscribe
* According to 2020 study / presentation.

Operating Costs

Currency2020
Crushing costs ($/t milled) USD 0.57 *  
Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2020 study.

Project Costs

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

Heavy Mobile Equipment

Lock

- subscription is required.

Personnel

Mine Management

Job TitleNamePhoneEmailProfileRef. Date
....................... Subscription required ....................... Subscription required ........... Subscription required ........... Subscription required Dec 13, 2023
....................... Subscription required ....................... Subscription required Subscription required Dec 22, 2020
....................... Subscription required ....................... Subscription required Subscription required Dec 22, 2020
....................... Subscription required ....................... Subscription required ........... Subscription required ........... Subscription required Subscription required Dec 13, 2023
....................... Subscription required ....................... Subscription required Subscription required Dec 13, 2023

Total WorkforceYear
...... Subscription required 2020

Aerial view:

Lock

- subscription is required.