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Victorine Mine

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Victorine Mine Project, Nevada, USA (100%)

The Victorine is a past producing high-grade mine in Lander County Nevada. It has produced over 170,000 ounces of gold since 1862 and was the extensively explored by several public companies. The last mining ocurred on the property in 1989 by Nevada GoldFields. In 1993, a mineable ore estimate confirmed a remaining Proven/Probable reserve of 168,000 ounces.

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Overview

The Victorine is a past producing high-grade mine in Lander County Nevada. It has produced over 100,000 ounces of gold since 1862. The last mining activity occurred on the property in 1989 by Nevada GoldFields. In 1993, a mineable ore estimate confirmed a remaining Proven/Probable reserve of 168,000 ounces.

NRH acquired a land package covering 171 acres which includes the Victorine Mine and several adjacent past-producing mines. Exploration drilling by Verdstone Gold in 1992 and 1993 confirmed the presence of additional zones that were never included in an updated resource estimate.

Based on reports from 1993, the remaining mineable ore reserve carried an Net Present Value of $18.3 million based on a $340 gold price. NRH will proceed with an updated Economic Analysis which will incorporate present gold prices and mining costs.

Property Highlights

  • Acquired in 2011
  • 100% Owned by NRH
  • NRH owns the land (171 acres) in addition to the mineral rights.
  • 167,705 ozs Historical Gold Reserves (Proven/Probable/Possible)
  • Good Economics - Historical NPV from 1993 of $18.3mm at $340 gold price environment utilizing a 350 tpd operation.
  • Past Producer having over 100,000 ounces of production including 78,000 ounces between 1987-1989
  • Infrastructure in place, power runs straight to the mine, substantial sunk capital costs.
  • Potential to increase resources as new zones discovered in 1993 were never included in an updated resource estimate.
  • Located in Nevada, ranked as one of the best mining jurisdictions in the world.

Project News

Victorine Mine Reserves & Resources

Property Category Tonnes (t) Grade (g/t) Contained Gold (oz) Standard
Proven/Probable 559,866 6.72 120,960 Historical(Verdstone)
Inferred 292,459 4.97 46,745 Historical (Verdstone)
Total 852,869 6.10 167,705 Historical(Verdstone)
Note:
Mineral Resources have not demonstrated economic viability and should not be treated as reserves.

See "Cautionary Note Concerning Reserve & Resource Estimates"


Project Reports