Why Golden Independence?
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Tier 1 Mining Jurisdiction
The Independence Gold Project is located in the top-tier gold mining jurisdiction of Nevada USA -
Positive PEA
Positive PEA released December 2021 outlining LOM production of 195,443 oz gold 1.3Moz silver over a 6.1 year mine life with an AISC of US$1,078/oz gold (net of silver credits). PEA estimates an after-tax NPV5 of US$35 million and IRR of 18% using US$1,700/oz gold and US$24/oz silver. At metals prices of US$1,799/oz gold and US$22.47/oz silver the project NPV5 estimate increases by 30% to US$45 million. -
Advanced Stage Asset
NI 43-101 compliant Mineral Resource Estimate (MRE) updated in December 2021 as part of the PEA outlining both a near surface and an underground resource. The near surface portion of the MRE consists of Measured & Indicated Total Resource of 334,300 ounces of gold and 6.9 million ounces of silver plus an Inferred Total Resource of 50,800 ounces of gold and 0.7 million ounces of silver. The underground portion of the MRE consists of an Inferred Resource of 796,200 ounces of gold. -
Fully Permitted
Fully-permitted for exploration and development drilling of over 160 drill holes (from 80 drill sites). Expedited project development for a heap-leach operation as the project lies within Nevada Gold Mines’ (Newmont-Barrick JV) approved Environmental Impact Statement (EIS) and Permitted Plan of Operations. -
Catalyst-Rich Pipeline
Joint Venture formed in December 2021 which allows for ongoing strategic discussions. Follow-up Phase III RC drilling of the near surface resource as well as core drilling to expand the high grade skarn resource planned.
Notes to Mineral Resource Estimate: Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, changes in global gold markets or other relevant issues. The CIM definitions (2014) were followed for classification of Mineral Resources. The quantity and grade of reported inferred Mineral Resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred Mineral Resources as indicated Mineral Resource. It is probable that further exploration drilling will result in upgrading them to the indicated or measured Mineral Resource category. 2. The Mineral Resource Estimate incorporates over 132,000 feet of reverse circulation and core drilling in 246 holes, and outlines both a near surface and a deep skarn resource. The near surface mineralization is primarily based on the reverse circulation drilling, while the deep skarn mineralization is based entirely on core drilling. 3. The resource was prepared by James Ashton, P.E., an independent QP, with an effective date of November 15, 2021. 4. The mineral resources are constrained by an optimized pit and presented at variable diluted gold equivalent breakeven cutoff grades, which represents mineralization that is potentially available for open-pit mining and heap-leach processing. 5. The Deep Skarn mineralization resources were quantified based on deep tabular solids representing potentially underground mineable lenses. 6. Gold equivalent values are a function of metal price and metal recoveries. 7. Rounding may result in apparent discrepancies between tonnes, grade, and contained metal content.
Capital Structure
As of Apr. 11, 2023
Shares (M) | |
---|---|
Basic Shares Outstanding | 18.49 |
Warrants | 7.31 |
Options | 0.96 |
Fully Diluted | 26.76 |
C$(M) | |
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Working Capital | 2.60 |
ITM Warrants | 3.66 |
ITM Options | 0.39 |
Working Capital & Potential Proceeds | 6.64 |
Market Cap | 9.80 |