North Peak Resources to study economic potential of historic dumps at Prospect Mountain Mine Complex, Nevada
North Peak Resources Ltd. [TSXV: NPR; OTCQB: NPRLF] has begun investigations into the economic potential of the historic dumps within the Plan of Operations (PoO) of the Prospect Mountain Mine Complex, Nevada.
The main dump, which sits in front of the main Diamond tunnel portal entrance is estimated to contain between 210,000-230,000 mt of material. Historical investigations from 2008 & 2010 included volume assessments, agitated leach and bulk density test work, have indicated that the material is fully oxidized and readily leachable with gold recoveries between 75-85%.
Composite metallurgical samples from the various reports had feed grades averaging from a low of 0.76 g/t Au, 27.5/t Ag to a high of 3.19 g/t, 34.46 g/t Ag. The potential quantity and grade of the dump is conceptual in nature and there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
North Peak will be initiating an aircore drill program on the dump to better characterize the grade distribution across the dump, which is expected to start in mid-September. A composite bulk sample will be sent to McLelland laboratories for metallurgical test work including column leach testing to allow a fuller investigation of the potential of the dumps for toll leach treatment offsite, which will take several months.
Rupert Williams, CEO, commented, “The Diamond Tunnel dump represents a potentially valuable asset to the company, particularly given the current gold prices. If the test work is successful, and other key elements are in place, it could give the company a revenue stream to offset future exploration expenses whilst the company follows up on the excellent drill results from the 2024 drilling campaign and continues to explore and expand the potential of Prospect Mountain.”
Launched by the founding team behind both Kirkland Lake Gold and Rupert Resources, the team has a strong track record of acquiring mining assets, applying modern exploration techniques and taking them into operational mines.
North Peak’s flagship property is the Prospect Mountain Mine complex which lies in the Battle Mountain Eureka trend, in an area known as the Southern Eureka Gold Belt, where three styles of mineralization have been identified, gold, silver Carlin style mineralization, Carbonate Replacement gold, silver, lead, zinc mineralization (CRD) and carbonate hosted Porphyry Related Skarn lead, zinc and gold mineralization associated with cretaceous intrusions. At the property, the CRD mineralization is heavily oxidized to depths of at least 610m (2,000ft) below the top of the ridge line.
A Plan of Operations is in place which covers part of the Property and entitles an operator to pursue surface exploration (totaling 189 acres), underground mining of up to 365,000 tons per annum and certain infrastructural works.