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United States
Cortez Mine (Nevada Gold Mines Operation)

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 Location:
100 km SW from Elko, Nevada, United States

  Address:
HC66 Box 1250
Crescent Valley
Nevada, United States
89821
Phone  ...  Subscription required
Fax(775) 468-4496
WebsiteWeb
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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.

Significant growth at the complex over the next five to ten years will be driven by Goldrush, Robertson and potentially Fourmile.

Subject to the ROD, the development of Goldrush is expected to achieve commercial production in 2025.

Robertson: Pre-feasibility study in progress. Record of Decision – Q2 2023. Initial Production – Q4 2024.


Owners

Source: p. 75-76
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
  • Stratabound
  • 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-frac ........


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.

As the permitting process progresses, mine development has continued in the Red Hill mining zone at Goldrush. Development is currently focused on the upper portions of Red Hill, where dewatering of the ore body is not required. Test mining of underground longhole stopes commenced in November 2021.

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 str ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Production:

CommodityUnits2022202120202019201820172016
Gold koz  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required1,2651,4471,059
All production numbers are expressed as metal in doré. ^ Guidance / Forecast.
Subscription required - Subscription is required.

Operational Metrics:

Metrics202120202019201820172016
Total tonnes mined  ......  Subscription required  ......  Subscription required135,234 kt121,929 kt134,503 kt124,919 kt
Ore tonnes mined  ......  Subscription required  ......  Subscription required20,024 kt
Waste  ......  Subscription required  ......  Subscription required115,209 kt104,573 kt117,336 kt
Stripping / waste ratio  ......  Subscription required  ......  Subscription required6.15 kt6.54 7.35
Tonnes processed  ......  Subscription required  ......  Subscription required22,025 kt17,001 kt15,853 kt25,112 kt
Daily mining capacity  ......  Subscription required  ......  Subscription required405 k tons405 k tons
Daily mining rate  ......  Subscription required  ......  Subscription required341.8 kt
Daily processing rate  ......  Subscription required  ......  Subscription required68.7 kt
Subscription required - Subscription is required.

Reserves at December 31, 2021:

CategoryTonnage CommodityGradeContained Metal
Proven 3.6 Mt Gold 4.43 g/t 0.5 M oz
Probable 102 Mt Gold 4.16 g/t 13.8 M oz
Proven & Probable 106 Mt Gold 4.17 g/t 14 M oz
Measured 4 Mt Gold 4.88 g/t 0.67 M oz
Indicated 195 Mt Gold 2.71 g/t 18 M oz
Inferred 124 Mt Gold 1.6 g/t 6.3 M oz

Commodity Production Costs:

CommodityUnits2022202120202019201820172016
Cash costs Gold USD 430 / oz  
Cash costs Gold USD 430 / oz†  
Total cash costs Gold USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 352 / oz   301 / oz  
Total cash costs Gold USD  ......  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 431 / oz   381 / oz   518 / oz  
All-in sustaining costs (AISC) Gold USD  ......  Subscription required ^†  ......  Subscription required†  ......  Subscription required†  ......  Subscription required† 430 / oz†   380 / oz†   518 / oz†  
All-in costs Gold USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 650 / oz   513 / oz   581 / oz  
All-in costs Gold USD  ......  Subscription required†  ......  Subscription required†  ......  Subscription required† 649 / oz†   512 / oz†   581 / oz†  
^ Guidance / Forecast.
† Net of By-Product.
Subscription required - Subscription is required.

Operating Costs:

Units2021202020192018201720162015
OP mining costs ($/t mined) USD 2.221.641.761.471.431.561.42
UG mining costs ($/t mined) USD  ......  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 - Subscription is required.

Financials:

Units202120202019201820172016
Sustaining costs M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required
Capital expenditures M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 340   294   142  
Revenue M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 1,589   1,870   1,314  
Operating Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 725   873   340  
EBITDA M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 1,112   1,405   839  
Subscription required - Subscription is required


Pipelines
TypeMaterialDiameterLengthDescription


Heavy Mobile Equipment as of December 31, 2021:
HME TypeModelSizeQuantity
Bulldozer ....................... Subscription required ....................... Subscription required
Deck & Boom Trucks ....................... Subscription required ....................... Subscription required
Dozer ....................... Subscription required ....................... Subscription required
Dozer ....................... Subscription required ....................... Subscription required
Dozer ....................... Subscription required ....................... Subscription required
Drill (blasthole) ....................... Subscription required ....................... Subscription required
Drill (blasthole) ....................... Subscription required ....................... Subscription required
Drill (long hole) ....................... Subscription required
Drill jumbo (two boom) ....................... 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
Rock bolter ....................... Subscription required
Shovel ....................... Subscription required 48 cu. yd ....................... Subscription required
Shovel ....................... Subscription required 77 cu. yd ....................... Subscription required
Tire manipulator ....................... Subscription required ....................... Subscription required
Truck (fuel / lube) ....................... Subscription required ....................... Subscription required
Truck (haul) ....................... 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 (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
Subscription required - Subscription is required.

Mine Management:

Job TitleNameEmailProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Aug 10, 2022
....................... Subscription required ....................... Subscription required Subscription required Jul 25, 2022
....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required Aug 10, 2022
....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required Aug 10, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 10, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 10, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 10, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 10, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 10, 2022
....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required Aug 10, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 10, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 10, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 10, 2022
Subscription required - Subscription is required.

Staff:

EmployeesContractorsTotal WorkforceYear
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
................................... 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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