McEwen Mining Inc. reports the construction of the Gold Bar Mine in Nevada’s productive Battle Mountain-Cortez Trend is coming close to completion, just 14 months after ground breaking in November 2017. The Mine is on track for introductory gold production in late February 2019. Subsequently, commercial production will commence when the Mine’s systems attain a steady state, which is anticipated by the end of Q1. The project is tracking on the company’s original capital cost estimate of $81.4 million.
About 150,000 tons of ore have been kept on the heap leach pad since the beginning of December 2018. Some weeks ago, leaching was commenced and gold is being dissolved using the cyanide solution at the anticipated rate. McEwen Mining estimates that the Gold Bar Mine will yield 55,000 oz gold in 2019 at an all-in cost of around US$975/oz.
The months of December and January were difficult on site with heavy snow and cold temperatures delaying certain work. Remaining operations to finish the process plant include instrumentation installation, electrical work, and commissioning of the gold refinery circuit. McEwen Mining would like to thank all its employees and subcontractors for their commitment to the task at hand regardless of the conditions.
The estimated mine life has been extended to 7.4 years based on the 2018 exploration drilling work. The future incorporation of the Gold Bar South resource to the mine plan should additionally extend the mine life by at least one year. McEwen Mining’s 2019 exploration budget on the Gold Bar property is $4.4 million. Exploration drilling will aim for both near surface and deep Carlin-type mineralization.