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Borealis Mining Company Limited reports on gold mining, exploration and corporate activity tied to the Borealis Mine in Nevada. Company updates cover exploration and resumption-of-production work at a fully permitted mine site with active heap leach pads, an ADR facility and infrastructure for heap-leach gold operations.
Recurring news includes drill results from Nevada gold targets such as Cerro Duro and Jaimie's Ridge, operational updates on doré sales and gold- and silver-bearing carbon, and the completed acquisition of Gold Bull Resources and the Sandman Gold project. Other disclosures address financial statement restatements, shareholder voting matters, capital-structure updates, governance actions and restricted share unit grants under the company's long-term incentive plan.
Borealis Mining has announced significant drill results from its Graben target at the Borealis Gold Project in Nevada. Key highlights include drillhole DHBM011 yielding 2.25 g/t Au over 99.1m including 4.06 g/t Au over 21.3m, and DHBM013 returning 2.11 g/t Au over 36.6m including 8.24 g/t Au over 4.6m. The Graben historical gold deposit shows large widths of consistent gold mineralization within a silicified and sulfidized body. The company plans to return to the Graben area in early 2025 for additional testing and is permitted for a 55,000-tonne underground bulk sample.
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 Company (TSXV: BOGO) (FSE: L4B0) has completed its second gold pour of 2024 at its on-site ADR facility. The pour resulted in doré bars weighing ~1,625 troy ounces containing 14.116% Au and 9.954% Ag, equating to approximately 229 troy ounces of gold and 162 troy ounces of silver. The company has begun introducing fresh cyanide to a previously un-leached section of the leach pad, expecting higher gold percentage doré in future pours.
Borealis has also listed its common shares on the Frankfurt Stock Exchange under the symbol L4B0. The company has engaged several firms for strategic consulting, web content, and digital content creation services. Borealis is actively participating in upcoming investor conferences and events, including roadshows in Europe and mining showcases in Toronto, Sydney, and Zurich.
Borealis Mining Company (TSXV: BOGO) has announced its first gold pour of 2024 at its on-site ADR facility. The pour resulted in doré bars weighing ~651 troy ounces, containing 21.968% Au and 20.169% Ag, equating to approximately 143 troy ounces of gold and 131 troy ounces of silver. The company plans to strip the remaining 7.5 carbon columns and introduce fresh cyanide to a new section of the leach pad.
Borealis has appointed Lisanna Lewis as Chief Financial Officer, replacing Mike Dai. The company has also engaged Velocity Trade Capital to provide market liquidity services starting September 1, 2024. Additionally, Borealis has granted 4,500,000 stock options and 175,000 restricted share units to officers, directors, employees, and consultants.