Name of the Project
Golden Arrow gold/silver project.
Location
Nye County, Nevada, in the US.
Client
Emgold Mining and Nevada Sunrise.
Project Description
Golden Arrow is an advanced-stage gold and silver exploration property. A technical report has disclosed that the project has estimated measured and indicated resources of 12.17-million tons, and inferred resources of 3.79-million tons. The report has determined that Golden Arrow is a property of merit that warrants continued systemic exploration to discover additional centres of mineralisation within the property.
A two-phased approach has been proposed to complete a preliminary economic assessment (PEA) by the end of Phase 2.
Phase 1 will include the completion of an in-house economic scoping study based on the existing mining resources to evaluate whether the PEA can be completed from the existing resource, or whether additional drilling is required to expand the resource before progressing with a PEA. In addition, the report recommends that Phase 1 include a comprehensive review of currently available technical data to define potential drilling targets for the discovery of new mineral centres and to identify locations for drilling within the current resource areas to upgrade mineral resources from the inferred to the indicated classification.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
Too early to state.
Value
The proposed budget for Phase 1 is $550 000.
The budget for Phase 2 could range from $200 000 for completing a PEA to $2-million or more for an aggressive drilling programme followed by completion of a PEA.
Duration
Too early to state.
Latest Developments
Following the completion of Phase 1, a decision will be made whether or how to proceed with Phase 2. This phase may follow two different paths, based on the results of the Phase 1 scoping study and geological work.
Regardless of the results of Phase 1, exploration drilling is presently warranted, but Phase 1 will be used to design the drill programme for Phase 2.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Emgold Mining, David Watkinson, tel +1 530 271 0679 ext 101 or email info@emgold.com.