Mule Canyon gold resource advances restart plans
The next steps include upgrading inferred material, establishing the economics and securing restart permits.
Central Nevada Gold reveals a significant gold resource at Mule Canyon in Nevada, moving closer to restarting the former open-pit operation in 2028. The resource consists of 11.9 million indicated tonnes, grading 1.73 grams of gold per tonne, worth 663,000 ounces. An additional 20.8 million inferred tonnes grade 1.52 grams, containing 1.02 million ounces.
CEO Simon Griffiths emphasized the need to demonstrate the resource's technical and economic viability for a long mine life. The Toronto-based developer plans to upgrade inferred material, which accounts for 61% of the gold, and secure restart permits. Pre-feasibility studies, infill drilling, and grade sensitivity analysis are underway.
The company secured $18.5 million in working capital and completed a $33-million financing round, led by Orion Mine Finance Management, to fund drilling, pre-feasibility studies, and permits.
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