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United States
Independence Project

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 Location:
22 Km SW from Battle Mountain, Nevada, United States

  Project Contacts:
503 – 905 West Pender St.
Vancouver
British Columbia, Canada
V6C 1L6
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WebsiteWeb
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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life6.1 years (as of Jan 1, 2022)


Owners

Source: p. 15
CompanyInterestOwnership
Americas Gold Exploration Inc. 49 % Indirect
Golden Independence Mining Corp. (operator) 51 % Indirect
The property is owned under a joint-venture agreement between Americas Gold Exploration Inc. (AGEI) and Golden Independence Mining Corp. (GIMC). Under the terms of the JV, GIMC has an initial 51% interest in the Independence project while AGEI holds an initial 49% interest. GIMC is the operator and is entitled to a 10% operator fee until a production decision is made on the Independence project.

Contractors

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Deposit Type

  • Epithermal
  • Skarn
  • Porphyry


Summary:

Three distinct deposit types are present at the Independence Property, a shallow near surface epithermal system, a deeper high gold rich skarn system and an intrusive hosted stock work gold-copper porphyry system.

Surface “Chert Hosted” Mineralization
The mineralized body broadly strikes N-S and dips 55° – 65° to the west overall, with a very shallow 3 to 5° southerly rake. Along the main mineralized zone, high grade ore chutes are developed at intersections with NW to E-NE trending cross faults and favorable lithology. These intersections historically have yielded ore grades to 1 opt gold and 39.4 opt silver with local bonanza grade to 63 ounce of gold per ton and 19,800 ounces of silver per ton. Several of these types of ore chutes were discovered by past operators and mined from the underground workings present on the property. One such rich ore chute was the Bonner-Cole, mined from 1954 to 1958 that produced 2,796 ounces of gold and 110,294 ounces of silver at average grades of 1.0 opt Au and 39.4 opt Ag, respectively.

Gold and silver mineralization in the Independence Shallow, chert hosted mineralization corresponds largely with elevated levels of the pathfinder elements arsenic, antimony and locally bismuth. Elevated levels of certain Rare Earth Elements (REE’s) is indicated in the foot wall of the deposit and is of uncertain correlation pending additional work and better understanding of the relationship with mineralization if any. The minera ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The Independence Project contains two mining areas: the South Pit and the North Pit. The two pits will be mined simultaneously with mining beginning in the South Pit. The Independence Project is based on standard open-pit mining methods, with drill and blast rock breakage, and truck and loader materials handling all performed by a mining contractor.

Open Pit Mine Design
Open pit design parameters used in the design of the two pits. Road designs have been completed to allow primary access for people, equipment, and consumables to the site. This includes haul roads between the designed pits, dumps, and proposed leach facility. Within the pit designs, ramps have been established for haul truck and equipment access. The initial pit access roads for the top benches will eventually be mined out and only the final ramps to the bottom of the pits will remain. The in-pit ramps will only require a single berm. Ramps outside of the pit will require two safety berms. One-lane traffic ramps are also utilized near the bottom of the two pits where the strip ratio is minimal, and the traffic requirements are low.

The resulting pit optimizations were used as the basis for mineable pit designs. The designs used an inner-ramp slope of 49° and a bench face angle of 63o. Both the South pit and North pit mine schedules utilize single phase top down mining while being mined concurrently.

Leach Pad and Waste Dump Design
Waste dump and leach pad designs wer ........


Crushing and Grinding
Source: Subscription required

- subscription is required.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Gold Metal in doré oz 32,050195,443
Silver Metal in doré oz  ......  Subscription required  ......  Subscription required
Gold Equivalent Payable metal koz  ......  Subscription required
Gold Equivalent Metal in doré koz  ......  Subscription required  ......  Subscription required

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
Daily processing capacity  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
Annual processing capacity  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

Reserves at November 15, 2021:
Cutoff: Oxide 0.175 gr. Au/tonne; Transition 0.215 gr. Au/tonne; Sulfide 0.425 gr. Au/tonne.

CategoryOreTypeTonnage CommodityGradeContained Metal
Measured Sulphide 133,000 t Gold 0.73 g/t 3,100 oz
Measured Transitional 946,000 t Gold 0.47 g/t 14,200 oz
Measured Oxide 7,634,000 t Gold 0.38 g/t 92,500 oz
Measured Sulphide 133,000 t Silver 16.5 g/t 70,600 oz
Measured Transitional 946,000 t Silver 9.11 g/t 277,200 oz
Measured Oxide 7,634,000 t Silver 9.71 g/t 2,382,000 oz
Measured Sulphide 133,000 t Gold Equivalent 0.94 g/t 4,000 oz
Measured Transitional 946,000 t Gold Equivalent 0.53 g/t 16,100 oz
Measured Oxide 7,634,000 t Gold Equivalent 0.43 g/t 105,800 oz
Indicated Sulphide 436,000 t Gold 0.73 g/t 10,200 oz
Indicated Transitional 2,382,000 t Gold 0.47 g/t 35,900 oz
Indicated Oxide 16,466,000 t Gold 0.34 g/t 178,400 oz
Indicated Sulphide 436,000 t Silver 16.88 g/t 236,600 oz
Indicated Transitional 2,382,000 t Silver 6.85 g/t 524,500 oz
Indicated Oxide 16,466,000 t Silver 6.41 g/t 3,395,500 oz
Indicated Sulphide 436,000 t Gold Equivalent 0.95 g/t 13,300 oz
Indicated Transitional 2,382,000 t Gold Equivalent 0.51 g/t 39,400 oz
Indicated Oxide 16,466,000 t Gold Equivalent 0.37 g/t 196,900 oz
Measured & Indicated Total 27,997,000 t Gold 0.37 g/t 334,300 oz
Measured & Indicated Total 27,997,000 t Silver 7.65 g/t 6,886,400 oz
Measured & Indicated Total 27,997,000 t Gold Equivalent 0.42 g/t 375,500 oz
Inferred Sulphide 142,000 t Gold 0.51 g/t 2,300 oz
Inferred Transitional 626,000 t Gold 0.34 g/t 6,900 oz
Inferred Oxide 4,450,000 t Gold 0.29 g/t 41,600 oz
Inferred Sulphide 626,000 t Silver 4.42 g/t 20,200 oz
Inferred Transitional 626,000 t Silver 3.63 g/t 73,000 oz
Inferred Oxide 4,450,000 t Silver 4.46 g/t 637,400 oz
Inferred Sulphide 626,000 t Gold Equivalent 0.58 g/t 2,600 oz
Inferred Transitional 626,000 t Gold Equivalent 0.37 g/t 7,400 oz
Inferred Oxide 4,450,000 t Gold Equivalent 0.32 g/t 45,100 oz

Commodity Production Costs:

CommodityUnitsAverage
Total 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 2022 study / presentation.
† Net of By-Product.
Subscription required - Subscription is required.

Operating Costs:

Units2022
OP mining costs ($/t milled) USD 5.66 *
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

2022 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscription required
Working capital $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 88.8
G&A costs $M USD 23.2
Total OpEx $M USD  ......  Subscription required
Total Taxes $M USD  ......  Subscription required
Net 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 @ 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
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of January 24, 2022:
HME TypeModelSizeQuantityLeased or
Contractor
Backhoe 1.1 cu. yd ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 16, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 16, 2022
....................... Subscription required ....................... Subscription required Subscription required Jan 24, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2022

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Preliminary Economic Assessment 2022
................................... Subscription required 2021
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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