The Placers of Chandalar
The Chandalar gold district is host to seven historic placer mines which cumulatively have produced approximately 75,000 ounces of gold. Goldrich believes these assets provide the potential for significant gold production while hard-rock targets are further developed and explored.
Goldrich conducted 15,000 feet (4,572 meters) of reverse circulation drilling on the Little Squaw placer deposit in 2010. This drilling program delineated approximately 10.5 million cubic yards of mineralized material at an average grade of 0.025 ounces (0.78 grams) gold per cubic yard containing an estimated 250,000 ounces of gold.*
In 2012 Goldrich signed an agreement with placer operator NyacAU LLC to form a joint-venture that will develop the various placer deposits that reside throughout the Chandalar gold district. Under terms of the agreement, NyacAU agreed to finance all initial capital expenditures to develop the mining operations (US$30.8 million invested to date) and bring them into commercial production.
Near-Term Value Driver
- Non-Core Asset Monetized: Joint-venture partner in place that has funded, developed and is operating Little Squaw mine
- Organic Growth Opportunity: Positions Goldrich to generate non-dilutive cash flow to further fund hard rock exploration
- Economies of Scale: Bulk mineable, district-wide opportunities to delineate additional placer deposits
Little Squaw Gold Deposit
- Mineralized Material: Independent analysis has outlined 10.5 million cubic yards of mineralized material grading 0.025 ounces (0.78 grams) of gold per cubic yard containing an estimated 250,000 ounces of gold*
- Open For Expansion: Only upper half of creek drilled to date; significant room for expansion in lower creek bed
- Plant Construction Completed: Construction and equipment fully funded by JV partner; US$30.8 million invested to date
2015 Mining Operations at Little Squaw Mine
* This mineralized material is not a mineral reserve as defined in SEC Industry Guide 7.