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The DeLamar project is located in southwestern Idaho approximately 100 miles (160 km) from Boise. The project includes the historic Kinross’ DeLamar Mine that closed in 1998 due to low precious metal prices. The historic DeLamar Mine produced 1.3 million ounces of gold and 70 million ounces of silver.
The DeLamar project covers approximately 8,673 hectares (21,431 acres) in southwestern Idaho1.
1. NI 43-101 Technical Report and Preliminary Feasibility Study for the DeLamar and FloridaMountain Gold – Silver Project, Owyhee County, Idaho, USA. Dated March 22, 2022.
The 100% owned DeLamar Project was acquired from a wholly-owned subsidiary of Kinross Gold Corporation (“Kinross”) in November 2017.
The Delamar Project key highlights include:
Advanced Heap Leach Development Project in southwestern Idaho - Potential to produce 136k AuEq per year with high-margins (US$814 AISC)1
Large Resource Endowment including 4.1 M oz AuEq (M&I) and 663 oz AuEq (Inf)1
Significant Exploration Potential at prospective greenfield targets including War Eagle Mountain, BlackSheep, etc.
Excellent infrastructure and existing on-site facilities with all-season road access, grid power, a lined water treatment pond, workshop, and an office building.
Browfields Project that includes two phases of mining at DeLamar: Historic Mining from the late 1800s to early 1900s and then modern mining from the late 1970s to late 1990s. Total historic production of 1.3 million ounces of gold and 70 million ounces of silver. Typical recoveries for dominantly oxidized ores processed through the DeLamar agitated leach mill between 1990 and 1998 ranged between 85% to 95% for gold and 70% to 80% for silver. Recoveries for transitional material typically ranged between 77% to 90% for gold and 65% to 75% for silver1
The DeLamar project is subject to a retained variable net smelter return (“NSR”) royalty payable to Triple Flag Precious Metals Corp.