Borealis Expands Its Borealis Property Through Claim Staking
Borealis Mining has expanded its Nevada property by adding 3.66 square miles through claim staking, bringing the total package to 26.56 square miles. The new claims include 14 historical drillholes with significant gold mineralization, featuring intercepts such as 20m of 0.55g/t gold and 12m of 0.62g/t gold. Historical surface samples show gold grades between 0.3g/t and 1.57g/t, with silver grades up to 5 ounces per tonne. The expansion is located near Headwater Gold's recently staked claims, which operate under a Newmont earn-in agreement. The Borealis mine has historically produced over 600,000 ounces of gold from open pit heap leach operations.
Borealis Mining ha ampliato la propria proprietà in Nevada aggiungendo 3,66 miglia quadrate tramite la registrazione di diritti minerari, portando il pacchetto totale a 26,56 miglia quadrate. Le nuove richieste includono 14 fori di perforazione storici con significativa mineralizzazione di oro, presentando intercettazioni come 20 metri di 0,55 g/t di oro e 12 metri di 0,62 g/t di oro. I campioni storici di superficie mostrano gradi d'oro compresi tra 0,3 g/t e 1,57 g/t, con gradi d'argento fino a 5 once per tonnellata. L'espansione si trova vicino alle richieste recentemente registrate da Headwater Gold, che operano secondo un accordo di guadagno con Newmont. La mina Borealis ha storicamente prodotto oltre 600.000 once d'oro da operazioni di accumulo a cielo aperto.
Borealis Mining ha ampliado su propiedad en Nevada agregando 3.66 millas cuadradas a través de la reclamación, llevando el paquete total a 26.56 millas cuadradas. Las nuevas reclamaciones incluyen 14 perforaciones históricas con mineralización significativa de oro, presentando intercepciones como 20m de 0.55g/t de oro y 12m de 0.62g/t de oro. Las muestras superficiales históricas muestran grados de oro entre 0.3g/t y 1.57g/t, con grados de plata de hasta 5 onzas por tonelada. La expansión se ubica cerca de las reclamaciones recién registradas por Headwater Gold, que operan bajo un acuerdo de participación de Newmont. La mina Borealis ha producido históricamente más de 600,000 onzas de oro a partir de operaciones de lixiviación en pilas a cielo abierto.
Borealis Mining는 청구권 등록을 통해 네바다 지역을 3.66 평방 마일 넓혔으며, 총 면적은 26.56 평방 마일이 되었습니다. 새로운 청구권은 20m의 0.55g/t 금과 12m의 0.62g/t 금과 같은 중요한 금 광물화가 있는 14개의 역사적 시추공을 포함하고 있습니다. 역사적 표면 샘플에서는 금 등급이 0.3g/t에서 1.57g/t 사이이고, 은 등급은 톤당 최대 5온스를 기록합니다. 이 확장은 뉴몬트와의 수익 분배 계약 하에 운영되는 Headwater Gold의 최근 청구권 근처에 위치해 있습니다. Borealis 광산은 역사적으로 개방식 힙 리치 작업을 통해 600,000온스 이상의 금을 생산했습니다.
Borealis Mining a élargi sa propriété au Nevada en ajoutant 3,66 miles carrés grâce à l'enregistrement de revendications, portant le total à 26,56 miles carrés. Les nouvelles revendications incluent 14 forages historiques avec une minéralisation significative d'or, présentant des interceptions telles que 20 m de 0,55 g/t d'or et 12 m de 0,62 g/t d'or. Les échantillons de surface historiques montrent des teneurs en or allant de 0,3 g/t à 1,57 g/t, avec des teneurs en argent atteignant jusqu'à 5 onces par tonne. L'expansion est située à proximité des revendications récemment enregistrées par Headwater Gold, qui fonctionnent sous un accord d'earn-in avec Newmont. La mine Borealis a historiquement produit plus de 600 000 onces d'or à partir d'opérations de lixiviation en tas à ciel ouvert.
Borealis Mining hat sein Eigentum in Nevada durch die Eintragung von Ansprüchen um 3,66 Quadratmeilen erweitert, sodass das gesamte Paket nun 26,56 Quadratmeilen umfasst. Die neuen Ansprüche beinhalten 14 historische Bohrlöcher mit bedeutender Goldmineralisierung, darunter 20m mit 0,55g/t Gold und 12m mit 0,62g/t Gold. Historische Oberflächenproben zeigen Goldgehalte von 0,3g/t bis 1,57g/t, mit Silbergehalten von bis zu 5 Unzen pro Tonne. Die Erweiterung befindet sich in der Nähe der kürzlich eingetragenen Ansprüche von Headwater Gold, die unter einem Earn-in-Vertrag mit Newmont betrieben werden. Die Borealis-Mine hat historisch über 600.000 Unzen Gold aus Freiflächen-Heap-Leach-Betrieb produziert.
- Expansion of property by 3.66 square miles through low-cost claim staking
- Historical drill results show significant gold mineralization in multiple holes
- Surface samples indicate high-grade potential with up to 1.57g/t gold and 5 oz/t silver
- Property is fully permitted with existing infrastructure and operational ADR facility
- No recent drilling activity since 2011
- Detailed historical geological logs are unavailable for the drill holes
Vancouver, British Columbia--(Newsfile Corp. - October 29, 2024) - Borealis Mining Company Limited (TSXV: BOGO) (FSE: L4B0) (the "Company" or "Borealis") is pleased to announce an expansion of its claim package at the Borealis property in Nevada. The newly acquired claims add 3.66 square miles to an existing 22.9 square mile package within one of the largest zones of hydrothermal alteration in the State1. These new claims contain significant historical drill intercepts and surface sampling results along a structure subparallel to the main Borealis trend.
Sixty-four claims were added by claim staking on the east side of current claim holdings, containing 14 historical drillholes and numerous surface samples containing significant gold mineralization. Highlights from these holes include:
- 20m of 0.55g/t gold in BRB003 and 12m of 0.62g/t gold in BRB005, both from surface;
- 3m of 1.51g/t gold beginning at 12m in BRB006;
- 12m of 0.42g/t gold beginning at 4.6m in BRB004;
- 10.7m of 0.48g/t gold beginning at 11m in BRB008.
Detailed historical geological logs have not been located for these drillholes but mapping in the field and the shallow depth of intercepts suggest that these intercepts are all oxides.
Historical surface samples within the new claims include 33 samples with gold grades between 0.3g/t and 1.57g/t and silver grades as high as 5 ounces per tonne. The drillholes and surface samples are located along a northeast-trending structure over 1 mile in length, subparallel to the main Borealis trend.
The new Borealis claims are located in the same general area as the 583 claims recently staked by Headwater Gold (CSE: HWG) who are operating under an earn-in agreement with Newmont Corporation.
Iain Campbell, VP Exploration of Borealis, comments "The new claims contain meaningful Au mineralization in historical drillholes, and significant mineralization in multiple surface samples. This is an example of a previously discovered oxide target on the property, much like the existing Bullion and Boundary Ridge gold deposits, that just need more drilling to potentially bring into the future production pipeline. This gives the Exploration Team at Borealis the unique opportunity to take a methodical and patient approach to exploration for new deposits, expected to ultimately benefit investors and the company's bottom line."
1 Steininger, Roger C., and Ranta, Donald E., 2005, Geology of the high-sulfidation Graben gold deposit, Borealis Mining District, Mineral County, Nevada, in Rhoden, H.n., Steinberger, R.C., and Vikre, P.G., eds., Geological Society of Nevada Symposium 2005: Window to the World, Reno Nevada, May 2005, p. 385-398
Figure 1: Regional map showing Borealis' existing and expanded land package, along with neighboring companies' projects
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9344/228100_52246f8d949df9c7_001full.jpg
Figure 2: Map showing historical grab sampling results on the newly expanded claim package. Note the legend showing g/t Au on the lower right, and the north-east trend of mineralization.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9344/228100_52246f8d949df9c7_002full.jpg
Qualified Person
The scientific and technical content of this news release was reviewed, verified, and approved by Kelly Malcolm, P.Geo., Chief Executive Officer of the Company, and a Qualified Person as defined by Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Borealis Mine
The Borealis mine property, located close to the town of Hawthorne, NV, is fully permitted and equipped for present mine operations and future expansion, with existing open pits, heap leach pads, modern infrastructure, and a functional ADR facility which produces doré bars. The project has historically produced over 600,000 ounces of gold from an open pit heap leach operation. It is an under-explored property and has not been drilled since 2011. The property possesses high grade expansion potential with excellent historical drilling results, along with a number of untested regional targets.
About Borealis
Borealis is a gold mining and exploration company focused on exploration and resumption of production of the Borealis Mine in Nevada. The Borealis Mine is a fully permitted minesite, equipped with active heap leach pads, an ADR facility, and all necessary infrastructure to support a heap leach gold mining operation. In addition to the mine, the property, comprised of 751 unpatented mining claims of approximately 20 acres each totalling approximately 15,020 acres and one unpatented mill site claim of about five acres located in western Nevada, is highly prospective for additional high-sulfidation gold mineralization. Borealis is led by a strong board and management team, many of whom have founded, managed, and sold highly successful mining and exploration companies.
Upcoming Investor Conferences and Events
October 29-31: IMARC 2024, Sydney
November 11-12: Precious Metals Summit, Zurich
December 3-5: Mines and Money, London
For further information, please contact:
Kelly Malcolm
President and Chief Executive Officer
Email: info@BorealisMining.com
Office Tel: (289) 371-3371
This news release may contain certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
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FAQ
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