Big Springs Project

Prolific Tier 1 mining jurisdiction 

Big Springs is an asset with world-class scale potential located in Nevada, the most prolific gold province in the United States. This highly established mining district is responsible for more than two thirds of the gold production in the United States.

Big Springs is a Carlin-style deposit located in close proximity to similar deposits with significant historical production. Jerritt Canyon Gold Mine is 20km south of Big Springs along the Independence Trend and has produced over 10 Moz since 1981 with a remaining Resource of 2 Moz.

 

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Existing +1 Moz Mineral Resource 

The Big Springs Gold Project has an existing Mineral Resource estimate of 16 Mt at 2.0 g/t for 1.03 Moz with extensive further growth potential. The high-grade portion of the Mineral Resources, reported at a cut-off grade of 2.5 g/t gold, is 3.1 Mt at 4.2 g/t for 415 koz.

Between 1987 and 1993, Big Springs produced 386 koz gold, ceasing production due to prevailing low gold prices.

Modern, data-driven approach

The endowment potential of Big Springs has been severely underexplored from a modern perspective.  In particular, the application of newer geophysical techniques over this part of the Independence Trend in Nevada has driven a sharply enhanced understanding and generated exciting new exploration targets. The methodical and data-driven approach the Company has adopted holds the key to unlocking the huge, untapped potential that Big Springs offers.

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A big step forward in 2020

The 2020 exploration program at Big Springs was designed to form the foundation for the next 18 to 24 months. This foundation is targeted at allowing aggressive growth in the current Big Springs resource base over this period.

The 2020 program was holistically comprehensive. It included gravity and magnetic surveys over the entire Big Springs tenement package, hyperspectral imaging, field mapping and a 10-hole 1,154m diamond drilling program towards the end of the year.

Overlaying all this work was a detailed review of historical geological and geochemical data and reprocessing of historical geophysical data.

The 2020 diamond drilling program was the first at Big Springs since early 2017, and the first one to test the 401 deposit since 2007.

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Key program outcomes

The key outcomes from the 2020 drilling were significant. Gold mineralisation at the 401 deposit (South Sammy) and the North and SWX Shoots (North Sammy) has been extended by over 30m (and in the case of the SWX Shoot by over 50 metres). Continuity of delineated mineralisation has been enhanced in the process – with expected implications for resource confidence categorisation. New lodes were also discovered including the high-grade discovery at North Shoot (5.49m @ 15.23 g/t) and the footwall lode at SWX Shoot (9.14m @ 2.18 g/t).

 

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Big Springs Project
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Aggressive exploration program for 2021

The 2021 program is planned to aggressively test extensions to existing resources at Big Springs as well as enable drilling of high- priority new exploration targets worked up through the 2020 field season. This is set to involve a substantial volume of drilling through the course of this year.

Soil sampling and mapping are to be conducted in order to test earlier stage regional targets such as Golden Dome and Jacks Creek. Infill gravity and IP surveys have also been planned on selected targets such as North Sammy and Beadles Creek, in order to detect the high-grade mineralisation related E-W cross faults in the region and the sulphide alteration underneath.