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United States
Cortez Complex (Goldrush Project, Robertson Project) (Nevada Gold Mines Operation)

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 Location:
100 km SW from Elko, Nevada, United States
  Regional Office:
1655 Mountain City Hwy
Elko
Nevada, United States
89801
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News
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Overview

StageProduction
Mine TypeOpen Pit & Underground
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
  • Mechanized Cut & Fill
  • Longhole stoping
  • Cemented backfill
Production Start...
Mine Life2042
On July 1, 2019, Cortez was contributed to Nevada Gold Mines, a joint venture between Barrick (61.5%) and Newmont (38.5%).

The Cortez Complex consists of the open pits at Pipeline, Crossroads, and Cortez Pits, the Cortez Hills underground mine, a carbon-in-pulp (CIP) process plant, heap leach pads and heap leach processing plants.

Mineral Resources are estimated for the Cortez Pits (open pit), Cortez Hills (underground), Crossroads (open pit), Gold Acres (open pit), Goldrush (underground), Robertson (open pit), and Pipeline (open pit) deposits. Mineral Reserves are estimated for the Cortez Hills (underground), Crossroads (open pit), Cortez Pits (open pit), Goldrush (underground) and Pipeline (open pit) deposits.

Owners

Source: p. 81
CompanyInterestOwnership
Newmont Corp. 38.5 % Indirect
Barrick Gold Corp. (operator) 61.5 % Indirect
On March 10, 2019, Barrick entered into an implementation agreement with Newmont to create a joint venture, named Nevada Gold Mines.

On July 1, 2019, Cortez was contributed to Nevada Gold Mines, a joint venture with Newmont.

Barrick is the operator of the joint venture and owns 61.5%, with Newmont owning the remaining 38.5% of the joint venture.

Contractors

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Deposit Type

  • Carlin-type
  • Sediment-hosted
  • Hydrothermal

Summary:

The Cortez deposits are Carlin-type sedimentary rock-hosted deposits. A secondary deposit model that is applicable to the Cortez Complex is an intrusion-related gold model. Cortez mineralization occurs approximately between elevations 1,630–1,240 m, is approximately 400 m wide northeast–southwest by 1,219 m long northwest–southeast, and ranges in thickness from approximately 90–455 m. Mineralization is hosted within the Roberts Mountains Formation and the Hanson Creek Formation. A series of north– northwest trending and northeast trending faults cut the lithologies, with mineralization forming where these faults intersect shallow east-dipping thrust breccia zones (thrust duplexes). Most of the Cortez NW Deep higher-grade gold mineralization (<3.43 g/t Au) occurs in two zones lying between the 1,280– 1,325 m elevations beneath the old Cortez open pit floor. One zone consists of an oxidized and strongly altered thrust zone within the Roberts Mountains Formation and the other is an unoxidized, sulfide- bearing thrust zone at the top of the Hanson Creek Formation. Mineralization becomes dominantly refractory at about 1,280–1,325 m elevation. Breccia gold mineralization is hosted in hydrothermally brecciated and fractured rocks that are spatially associated with the WSW dipping faults and attendant structures. Altered, matrixsupported breccia bodies contain the highest gold grades and are surrounded by “crackle” breccias and highly-fractured rock with moderate gold grades continui ........

Mining Methods

  • Truck & Shovel / Loader
  • Mechanized Cut & Fill
  • Longhole stoping
  • Cemented backfill

Summary:

The Cortez Complex consists of both open pit and underground mines. Open pit mines consist of Pipeline, Crossroads, and Cortez pits, while underground operations consist of Cortez Hills Underground (Middle Zone, Lower Zone, and Deep South), and Goldrush Underground operations (Red Hill, Crow’s Nest, 3 ½, Ranch, Meadow).

Open pit mining is conducted using conventional open pit techniques and equipment.

Cortez Hills Underground is a mechanized decline access underground mine based upon the mining of up to 4,700 t/d of ore and waste. The Middle Zone is being exploited using cut-and-fill mining methods and minor amounts of longhole stoping; while the Lower and Deep South Zones are planned to be mined by longhole stoping.

Goldrush underground is a mechanized decline access underground mine with intensive lateral development required to open up the orebody. The primary mining method will be longhole stoping with minor amounts of cut-and-fill where the orebody geometry does not allow for longhole stopes.

OPEN PITS
Open pit ore is mined by a conventional shovel-truck process at the rate of approximately 12.4 Mt/a with a LOM stripping ratio of 6.5:1 (waste to ore ratio). Mining occurs in two separate areas approximately 19 km apart, at the Cortez Pits, and the Pipeline/Crossroads open pits.

Mining at Cortez Hills (CHOP) was completed in May 2019, and the ramp between the Pediment open pit and Cortez Hills remains to ensure ........

Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Production:

CommodityUnits2023202220212020201920182017
Gold koz  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required1,2651,447
All production numbers are expressed as metal in doré. ^ Guidance / Forecast.
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Operational Metrics:

Metrics202220212020201920182017
Stripping / waste ratio  ......  Subscription required  ......  Subscription required6.43 6.15 kt6.54 7.35
Ore tonnes mined  ......  Subscription required  ......  Subscription required20,326 kt20,024 kt
Waste OP  ......  Subscription required  ......  Subscription required
Total tonnes mined  ......  Subscription required  ......  Subscription required139,415 kt135,234 kt121,929 kt134,503 kt
Tonnes processed  ......  Subscription required  ......  Subscription required21,169 kt22,025 kt17,001 kt15,853 kt
Waste  ......  Subscription required  ......  Subscription required119,089 kt115,209 kt104,573 kt117,336 kt
Daily mining capacity  ......  Subscription required  ......  Subscription required405 k tons405 k tons
Daily mining rate  ......  Subscription required  ......  Subscription required
Daily processing rate  ......  Subscription required  ......  Subscription required
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Reserves at December 31, 2022:

CategoryTonnage CommodityGradeContained Metal
Proven & Probable 211 Mt Gold 2.26 g/t 15.6 M oz
Measured 3.7 Mt Gold 5.53 g/t 0.65 M oz
Indicated 309 Mt Gold 2.02 g/t 21.1 M oz
Inferred 211 Mt Gold 1.1 g/t 7.2 M oz

Commodity Production Costs:

CommodityUnits2023202220212020201920182017
Cash costs Gold USD
Cash costs Gold USD
Total cash costs Gold USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 352 / oz   301 / oz  
Total cash costs Gold USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 351 / oz†   300 / oz†  
All-in sustaining costs (AISC) Gold USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 431 / oz   381 / oz  
All-in sustaining costs (AISC) Gold USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 430 / oz†   380 / oz†  
All-in costs Gold USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 650 / oz   513 / oz  
All-in costs Gold USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 649 / oz†   512 / oz†  
^ Guidance / Forecast.
† Net of By-Product.
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Operating Costs:

Units20222021202020192018201720162015
OP mining costs ($/t mined) USD 2.78  2.22  1.64  1.76  1.47  1.43  1.56  1.42  
UG mining costs ($/t mined) USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Processing costs ($/t milled) USD  ......  Subscription required  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required  ......  Subscription required  ......  Subscription required
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Financials:

Units2022202120202019201820172016
Sustaining costs M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Capital expenditures M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 340   294   142  
Revenue M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 1,589   1,870   1,314  
Operating Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 725   873   340  
EBITDA M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 1,112   1,405   839  
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Water Supply
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Heavy Mobile Equipment as of December 31, 2021:
HME TypeModelSizeQuantity
Deck & Boom Trucks ....................... Subscription required ....................... Subscription required
Dozer (crawler) ....................... Subscription required ....................... Subscription required
Dozer (crawler) ....................... Subscription required ....................... Subscription required
Dozer (crawler) ....................... Subscription required ....................... Subscription required
Dozer (rubber tire) ....................... Subscription required ....................... Subscription required
Drill (blasthole) ....................... Subscription required ....................... Subscription required
Drill (blasthole) ....................... Subscription required ....................... Subscription required
Drill (long hole) ....................... Subscription required ....................... Subscription required
Drill jumbo (two boom) ....................... Subscription required ....................... Subscription required
Excavator ....................... Subscription required 35 cu. yd ....................... Subscription required
Excavator ....................... Subscription required ....................... Subscription required
Grader ....................... Subscription required ....................... Subscription required
Grader ....................... Subscription required ....................... Subscription required
Loader ....................... Subscription required ....................... Subscription required
Loader ....................... Subscription required ....................... Subscription required
Loader ....................... Subscription required ....................... Subscription required
Loader ....................... Subscription required ....................... Subscription required
Loader ....................... Subscription required ....................... Subscription required
Loader ....................... Subscription required ....................... Subscription required
Loader - Tool Carrier ....................... Subscription required ....................... Subscription required
Rock bolter ....................... Subscription required ....................... Subscription required
Shovel ....................... Subscription required 77 cu. yd ....................... Subscription required
Shovel ....................... Subscription required 48 cu. yd ....................... Subscription required
Tire manipulator ....................... Subscription required ....................... Subscription required
Trans Mixer ....................... Subscription required
Truck (boom) ....................... Subscription required ....................... Subscription required
Truck (fuel / lube) ....................... Subscription required ....................... Subscription required
Truck (fuel / lube) ....................... Subscription required ....................... Subscription required
Truck (haul) ....................... Subscription required ....................... Subscription required
Truck (haul) ....................... Subscription required 400 tons ....................... Subscription required
Truck (haul) ....................... Subscription required 345 tons ....................... Subscription required
Truck (haul) ....................... Subscription required ....................... Subscription required
Truck (service) ....................... Subscription required ....................... Subscription required
Truck (service) ....................... Subscription required ....................... Subscription required
Truck (service) ....................... Subscription required ....................... Subscription required
Truck (underground) ....................... Subscription required ....................... Subscription required
Truck (underground) ....................... Subscription required ....................... Subscription required
Truck (underground) ....................... Subscription required ....................... Subscription required
Truck (water) ....................... Subscription required ....................... Subscription required
Truck (water) ....................... Subscription required ....................... Subscription required
Truck (water) ....................... Subscription required ....................... Subscription required
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Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2023
....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2023
....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2023
....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2023
....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2023
....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2023
....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2023
....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2023
....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2023
....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2023
....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2023
Subscription required - Subscription is required.

Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required Subscription required Subscription required 2022
Subscription required Subscription required Subscription required 2021
Subscription required 2020
Subscription required 2019
Subscription required 2018
Subscription required 2017
Subscription required 2016

Corporate Filings & Presentations:

DocumentYear
Annual Information Form 2022
Annual Report 2022
Corporate Presentation 2022
Quarterly Report 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Other 2018
Other 2017
Other 2017
Quarterly Report 2017
Management Discussion & Analysis 2016
Press Release 2016
Press Release 2016
Technical Report 2016
Annual Report 2015
Corporate Presentation 2015
Annual Information Form 2014
Annual Report 2014
Technical Report 2012
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