Track Record of Growth and Performance
The Marigold mine is located in Humboldt County, Nevada, United States on the Battle Mountain-Eureka trend. SSR Mining completed the acquisition of Marigold on April 4, 2014 and published a technical report in July 2018.
In production since 1989, Marigold is a large run-of-mine heap leach operation with several open pits, waste rock stockpiles, leach pads, a carbon absorption facility, and a carbon processing and gold refining facility. Currently the mine utilizes a fleet of 290-tonne haul trucks and three loading units. Based on the Marigold updated life of mine plan announced on June 18, 2018, for the period to 2027, the mine is expected to produce on average approximately 211,000 ounces of gold per year. The gold doré bars produced at the mine are shipped to a third party refinery.
Highlights of the Marigold mine include:
- Mineral Reserves: Probable Mineral Reserves of 3.00 million ounces of gold at an average grade of 0.46 g/t, including 0.19 million ounces of gold in leach pad inventory, as at December 31, 2017.
- Potential for mine life extension: Indicated Mineral Resources of 5.47 million ounces of gold at an average grade of 0.46 g/t, including 0.19 million ounces of gold in leach pad inventory, as at December 31, 2017.
- Delivered strong annual gold production: Produced 202,240 ounces of gold in 2017.
- 2018 Production guidance: Anticipated production of between 190,000 and 210,000 ounces of gold in 2018.
- Marigold operating outlook: Updated life of mine plan for the Marigold mine forecasts average annual production of approximately 236,000 ounces per year over the next six years to 2023,with peak production over 265,000 ounces of gold in 2021 and 2022, a more than 30% increase over 2017. Refer to news release dated June 18, 2018.
- Exploration: Approximately $9 million planned for exploration in 2018 will target infill drilling of higher grade zones within the Mackay zone and commence a more focused program on the Red Dot deposit for the potential conversion of Mineral Resources to Mineral Reserves. Additionally, deep sulphide exploration drilling during 2017 has confirmed the presence of permissive rock units at depth.
Karthik Rathnam, MAusIMM (CP), our Chief Engineer at the Marigold mine, and James N. Carver, SME Registered Member, our Chief Geologist at the Marigold mine, each of whom is a qualified person, have reviewed and approved the foregoing disclosure on the Marigold mine. Please refer to the technical report entitled "NI 43-101 Technical Report on the Marigold Mine, Humboldt County, Nevada, USA" dated July 31, 2018 with an effective date of December 31, 2017, a link to which is provided below. Please also refer to our news release outlining the updated life of mine plan for the Marigold mine, dated June 18, 2018.
Mineral Resources are reported inclusive of Mineral Reserves. Please refer to our Mineral Reserves and Resources Table.
This page contains forward-looking statements. Please see the following link: Legal.