Borealis Mining Completes First Gold Pour Of 2024
Borealis Mining started trading earlier this month and just announced their first gold pour of 2024. When they bought the project it came with a loaded leach pad and a fully operational on-site ADR facility which enabled them to achieve this first milestone at the Borealis Mine.
Residual leaching recovered 143 troy ounces of gold and 131 troy ounces of silver that was run through the ADR plant. They also recovered 76.504 troy ounces of gold and 305.012 troy ounces of silver from a number of super sacks of spent carbon fines.
This is an exciting development because they are able to finish work on material that was left over from the previous operator to recover gold. It is their first news release as a public company and they have plenty more developments ahead of them.
Their business plan is to advance the Borealis Mine with a dual focus of exploration with drilling and also moving forward with developments to utilize their ADR plant to produce gold. The mine is permitted for both mining of near the surface oxide gold zones and deeper sulphide gold zones.
The image below is from the gold pour.
Next from the leach pad is a larger area that will be treated with fresh cyanide on material that had not been previously leached. They expect a higher gold percentage dore from the fresh material than the first pour from residual leached material. The first pour was from 2.5 carbon columns that were previously leached and there are 7.5 carbon columns that have not been leached.
The quote below from the news release put out this morning sums this development nicely,
Kelly Malcolm, CEO of Borealis, comments, "We are very pleased to announce our first gold pour of the year, which will now increase in frequency as we strip our remaining carbon columns and start to put fresh cyanide on our leach pad. We are also in the process of seeking contractors to crush our ~330,000 ton stockpile of ore, which should also generate meaningful gold production for the Company and our shareholders. Borealis is unique to many of our peers in the junior exploration sector, in that we are revenue generating and control a fully permitted mine and ADR facility. I'm also glad to announce Lisanna Lewis as our new Chief Financial Officer, who has decades of experience with Nevada mining operations."
I find this very impressive as they can take unfinished work by the previous operator and at a low cost generate revenue. Making for a found money kind of a situation.
Prior to going public and since they have also been drilling. Assays are pending, so they are moving forward aggressively with their dual plan of producing gold from the mine and also drilling for new mineralization.
All the best,
Allan Barry Laboucan
Disclosure
Borealis Mining is a sponsor of Rocks And Stocks News, content creation about them is for the benefit of the company. Sponsors also benefit readers of the reports as it makes content creation possible for no charge to readers. Allan Barry Laboucan is a shareholder of Borealis Mining shares and a consultant to the company.
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