Golden Predator plans to reactivate the Brewery Creek Gold Mine

The Brewery Creek gold mine is a 180-square-kilometre property located 55 kilometres east of Dawson City, Yukon and 30 kilometres from the Dawson City Airport.

Golden Predator Mining Corp. (TSX-V: GPY) is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities in Canada’s Yukon. With established resources grading more than 1.0 g/t gold and low capex to production in a safe first-world jurisdiction, the turnkey Brewery Creek Mine has a clear path to production as an economically and environmentally proven project.

The Brewery Creek Project is a past-producing heap leach gold mining operation, operated by Viceroy Resource Corporation from 1996 to 2002, that was temporarily closed due to low gold prices. The 180-square-kilometre property is located 55 kilometres east of Dawson City, Yukon and 30 kilometres from the Dawson City Airport. In addition to ongoing development activities, drilling continues to expand the numerous open-ended resources and untested targets with over 15,000-metres drilled in the fall of 2019.

On July 2nd, 2019, Golden Predator received formal notification from the Yukon Government that both the approved Quartz Mining License and Water License provide for the immediate restart of the Brewery Creek Mine. Additionally, Tr’ondëk Hwëch’in First Nation passed a formal council resolution in support of resumed mining and at the Brewery Creek Mine. The Brewery Creek Project has a Socio-Economic Accord with the Tr’ondëk Hwëch’in.

Subsequently, the company has been aggressively moving towards a resumption of mining activities and has appointed a leading technical team to commence the restart planning. Heavy equipment and engineering consultants mobilized to site to assess the site and its infrastructure in advance of mine development.

A three-phase production plan has been outlined that includes reprocessing the existing heap leach pad (Phase 1), completing the current mine plan (Phase 2), and an expansion of the mine plan (Phase 3). 

The 2014 Preliminary Economic Assessment outlined attractive economics at a gold price well below recently quoted prices with up to a 45 per cent Internal Rate of Return at a gold price of CAD $1,635.  The Brewery Creek Project has NI 43-101 Indicated mineral resources of 577,000 oxide gold ounces contained in 14.15 million tonnes of material with an average grade of 1.27 g/t, and Inferred mineral resources of 279,000 oxide gold ounces contained in 9.3 million tonnes with an average grade of 0.93 g/t. Historical production records indicates approximately 240,000 ounces remain on the heap leach pad contained within approximately 10M tonnes of material averaging 0.7 g/t gold. For Phase 1, Golden Predator is working on a feasibility study for reprocessing the heap leach pad which should be completed by March 2020.

Golden Predator is positioned to restart operations at the Brewery Creek Mine as early as mid-2020. For more information on Golden Predator or the Brewery Creek Mine, please visit www.goldenpredator.com or call 604-260-0289.  

Related Post

Be the first to comment

Leave a Reply

Your email address will not be published.


*


This site uses Akismet to reduce spam. Learn how your comment data is processed.