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United States
Gold Springs Project

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 Location:
200 km NW from Las Vegas, Utah, United States

  Project Contacts:
580 Hornby Street, Suite 880
Vancouver
British Columbia, Canada
BC V6C 3B6
Phone  ...  Subscription required
Fax(604)-684-0642
WebsiteWeb
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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, 2020)


Owners

Source: p. 14
CompanyInterestOwnership
Gold Springs Resource Corp. 100 % Direct
The Gold Springs property is held by Gold Springs, LLC (GSLLC), a Nevada limited liability company and wholly owned subsidiary of GRC-US, a Delaware corporation whose name was changed from TriMetals Mining Inc. (TMI-US) on November 4, 2019. Prior to March 17, 2014, GRC was known as South American Silver Corp. and acquired 100% ownership of TMI-US through its acquisition of High Desert Gold Corporation, a Canadian corporation (“HDG”), on December 20, 2013. HDG, GRC-US and Gold Springs, LLC. are now wholly owned subsidiaries of GRC.

Contractors

Subscription required - Subscription is required.


Deposit Type

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


Summary:

Gold mineralization on the Gold Springs project is characterized by structurally controlled vein and stockwork systems that are laterally extensive forming wide corridors of mineralization that are traceable over a strike length of several kilometres. The structural zones are a combination of Basin and Range through-going faults and ring fracture systems associated with caldera margins. Within these structurally prepared zones, mineralization takes the form of discreet veins, breccias, sheeted vein zones, stockwork veins, and zones of disseminations. The veins exhibit quartz, adularia, and low sulfide contents that are typical of a deposit type referred to as “low-sulfidation epithermal deposits” (Robert, et al., 2007).

Mineralization in the Gold Springs area is characterized by large through-going structural corridors hosting veins, breccias, and disseminated gold and silver mineralization in altered rocks. These are generally north-striking faults and structures that are the primary control for the low sulfidation-type gold bearing quartz veins, with subsidiary northeast and northwest striking veins also noted in the target areas. In addition, caldera margins, collapse features, and breccias provide areas of structural preparation and host mineralization within the Grey Eagle resource area. Andesite and latite flows are the primary host rocks to the gold-silver mineralization in the district and were intercepted during drilling conducted by GSLLC at the North ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The Gold Springs deposit is a near-surface epithermal gold system most suitable for open pit mining and heap leach gold recovery. GRE has used that approach for economic analysis.

The schedules for Grey Eagle and Jumbo were broken out into Phase 1 and Phase 2, where Phase 1 included all material within the $700 pit, and Phase 2 included remaining material, approximating a phased pit design. Additional design work will likely better balance the annual leach and waste stripping and metal production.

Pre-stripping of waste and/or tuff was included if either of the following criteria were true: waste or tuff occurred on a bench that had no corresponding leachable material or the tonnage of waste or tuff on a bench exceeded seven times the tonnage of leachable material on that bench. The production rate for pre-strip benches was set to two times the leach material production rate, or 30,000 tpd.

For all other benches, all waste and tuff on a bench were scheduled to be mined over the same duration as the leach material on that bench (i.e., if the leach material mining duration on a bench was 10 days, all waste and tuff on that bench, regardless of quantity, were also mined during those same 10 days). This scheduling method resulted in some years with high waste and/or tuff quantities relative to the leach material quantity mined. GRE used pre-stripping and phasing, as described above, as much as possible to smooth out the production, but the limitat ........


Crushing and Grinding
Flow Sheet: Source


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold oz 61,269490,152
Silver oz  ......  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
Daily processing rate  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

Reserves at May 1, 2020:

CategoryTonnage CommodityGradeContained Metal
Measured & Indicated 35,657 kt Gold 0.53 g/t 610 koz
Measured & Indicated 35,657 kt Silver 9.4 g/t 10,782 koz
Measured & Indicated 35,657 kt Gold Equivalent 0.63 g/t 729 koz
Inferred 5,634 kt Gold 0.49 g/t 90 koz
Inferred 5,634 kt Silver 7 g/t 1,267 koz
Inferred 5,634 kt Gold Equivalent 0.57 g/t 104 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold USD  ......  Subscription required *†
All-in sustaining costs (AISC) Gold USD  ......  Subscription required *†
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2020 study / presentation.
† Net of By-Product.
Subscription required - Subscription is required.

Operating Costs:

Units2020
OP mining costs ($/t mined) USD 1.47 *
OP mining costs ($/t milled) USD  ......  Subscription required
Processing costs ($/t 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
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 178.1
G&A costs $M USD 50
Total OpEx $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of May 1, 2020:
HME TypeModelSizeQuantity
Dozer ....................... Subscription required ....................... Subscription required
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....................... Subscription required ....................... Subscription required ....................... Subscription required
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....................... 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 Jun 23, 2020
....................... Subscription required ....................... Subscription required Subscription required Jun 23, 2020
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2020
................................... Subscription required 2020
Technical Report 2017
Preliminary Economic Assessment 2015
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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