Independence is located entirely within Nevada Gold Mines' Phoenix mine permitted plan of operations.
North America-focused Nexus Uranium has announced that it will spin off and separately list its Independence gold mine, in the Battle Mountain district of Nevada, on a Canadian exchange.
The creation of a new entity holding the project, which is located adjacent to Nevada Gold Mines’ Phoenix-Fortitude mine, will enable the asset to advance independently with new funding, said Nexus CEO Jeremy Poirier.
“With the continued strength of the gold price and improved sentiment for gold equities, we are moving forward with unlocking the unrecognised value of our Independence gold project,” said Poirier.
The Independence project hosts a measured and indicated resource of 334 300 oz of gold and an inferred resource of 847 000 oz. A 2022 preliminary economic assessment outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195 443 oz of gold at an all-in sustaining cost of $1 078/oz.
Independence is located entirely within Nevada Gold Mines' Phoenix mine permitted plan of operations.
Transferring the gold project out of its portfolio will enable Nexus to strengthen its focus on uranium exploration. Nexus owns the Cree East uranium project in the Athabasca basin and the Wray Mesa uranium/vanadium project in Utah.