Premier holds a 40% interest in the South Arturo Property
with Barrick Gold Corporation owning the remaining 60%. The South Arturo
Deposit is located on the historic Dee mining claims approximately 25 miles
northwest of the town of Carlin, in Elko County, Nevada. The South Arturo
Property is within the Bootstrap mining district at the northern area of the
Carlin Trend. The Bootstrap mining district includes the Tara, Bootstrap,
Capstone, Dee and Storm gold mines.
Premier is now partnered with a highly-skilled operator in
the production of a gold and silver property that has significant leverage to
future increases in the price of these precious metals. South Arturo provides
potential for open pit production that could extend over 8 to 9-year period
with underground mining opportunity as a further upside. The mineralized
material from South Arturo will be trucked primarily to Barrick's Goldstrike
Mine for processing.
The focus for 2018 will be to commence construction of the Phase 1 open pit and El Nino underground deposit, which be developed from the
bottom of the Phase 2 pit.
For 2018, operational guidance at the mine is 15,000 to 20,000 ozs Au at cash cost of US$600 - $650/ oz Au and all-in sustaining costs of US$620 - $670/oz Au. (Click here for 2018 company guidance press release).
South Arturo mine was ranked #1 in an article, "These ten mines will make money – even if gold price falls to $550". A true testament of the quality of Carlin Trend deposits and the ability of our JV partner Barrick. Click here to read the full article.