Resource World Magazine

8 www.resourceworld.com j u n e / j u l y 2 0 1 4 scenario also released in February. On April 8, the company announced it had started work on a preliminary economic assessment (PEA) for a starter pit at its wholly-owned molybdenum-copper Liberty Project located 20 miles north of Tonopah. Goldcorp Inc. [G-TSX; GG-NYSE] com- pleted the sale of its 66.7% stake in the Marigold Mine to Silver Standard Resources on April 4. Barrick Gold, which holds the remaining stake in Marigold, also sold its share. Total consideration paid at closing to Goldcorp and Barrick was $275 million. The operation produced 107,500 oz gold for Goldcorp in 2013. Along with Barrick, the company is also holds the Dee/South Arturo gold project in Nevada. Gold Standard Ventures Corp. [GSV- TSXV] recently purchased the Pinion deposit adjacent to its Railroad project in Elko County. The purchase was com- pleted March 5 for C$6 million in cash and 5.5 million shares of Gold Standard to Scorpio Gold. In addition, Scorpio will be paid C$2.5 million one year from clos- ing. A further 1.25 million shares will be issued to Scorpio if Pinion proves to have a resource that exceeds 1 million ounces gold. Re-logging and analysis of Pinion data is now underway. On April 1, Gold Standard unveiled exploration plans for the project, identifying targets at Pinion, North Bullion and Bald Mountain. Klondex Mines Ltd. [KDX-TSX; KLNDF-OTCQX] operates the Midas Mine and milling facilities, which it acquired from Newmont Mining in February for an aggre- gate purchase price totaling $83 million. The company announced the first operational update for Midas on February 28, announc- ing a throughput of 600 tpd (tons per day). In addition, Klondex's bulk sampling pro- gram at the Fire Creek gold project, also in Nevada, continues. Material from Fire Creek is being blended with Midas output and processed at the Midas mill. A favourable Fire Creek PEA was recently completed and an environmental assessment for Fire Creek will be undertaken during 2014, while fur- ther infill and exploration drilling planned for both properties. Max Resource Corp. [MXR-TSXV; MXROF-OTCBB; MID-FSE] outlined a test drill plan on February 5 for its Majuba Hill copper-silver project, which comprises past-producing mines. Focus will target a ridge where earlier drilling and sampling work returned positive mineralization, such as sample MHR-145 that returned 4.16% copper and 174 g/t silver. The company also closed a $316,000 private placement on March 28. Meadow Bay Gold Corp. [MAY-TSX; MAYGF-OTCQX] is advancing the past- producing Atlanta gold mine project in Lincoln County. On March 3, the company announced it closed a non-brokered private placement for gross proceeds of $900,000. The capital will be invested in further exploration work and used for general expenditures. The project has just over 15.5 million tons measured and indicated for 572,100 oz gold and just below 5.9 million oz silver contained. McEwen Mining Inc. [MUX-TSX] is developing the Gold Bar gold project in Eureka County. Over eight years, an annual output of 50,000 oz gold is forecast at an all-in sustaining cost of $850/oz. McEwen submitted a plan of project operations to the Bureau of Land Management (BLM) in Q4 2013, with responses to the BLM's subsequent comments made at the end of February. Once accepted as complete, the plan of operations will serve as the basis for the National Environmental Policy Act analysis. McEwen is aiming for final approval by end-Q2 2015 in order to start project construction. Midway Gold Corp. [MDW-TSX] is focused on building its Pan gold mine in White Pine County A formal ground- breaking ceremony was held on January 15, with mine completion estimated for Q3 2014. Pan currently has proven and probable reserves of just over 48 million tonnes at 0.56 g/t gold for 864,000 oz gold contained. Processing will involve conven- tional heap leaching methods, with a 75% average recovery estimated. On February 24, Midway announced that Barrick Gold Exploration had successfully earned a 70% stake in the Spring Valley Project in Pershing County after investing $38 mil- lion in exploration. Montana Gold Mining Company Inc. [MGM-CSE] is developing the Golden Trail gold project in Elko County. On March 17, it announced the completion of surface rock-chip line sampling and ionic leach and conventional soil geochemical surveys. Highlights include 13.7 g/t gold and 36.2 g/t silver returned from a 5-foot continu- ous trench sample, while 3.49 g/t gold and 105 g/t silver was returned from another. The geochemical surveys will help identify future drill targets. Nevada Copper Corp. [NCU-TSX] holds the Pumpkin Hollow advanced-stage copper project near Yerington. The site is fully permitted for construction and opera- tion of an underground mine at 6,500 tpd as part of the company's Stage 1 develop- ment plan. The feasibility study for a Stage 2 stand-alone 70,000 tpd open-pit operation has also been formulated. However, Stage 2's progress will depend on the passage of the Lyon County Land Bill that is before US Congress. With a 12-year initial life of mine, the Stage 1 feasibility study estimates metal production contained in concentrates will total 759 million lbs copper, 167,439 oz gold and 2.7 million oz silver. Nevada Exploration Inc. [NGE-TSXV] holds a 30% interest in the Grass Valley

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