Coeur Mining to Buy
Northern Empire Resources
Nothern Empire’s Sterling gold project consists of four high-grade
heap-leachable deposits.
Coeur Mining has agreed to acquire
Northern Empire Resources Corp. by purchasing
all outstanding shares not currently
owned by Coeur for approximately
$90 million. Northern Empire’s principal
asset is the Sterling gold project located
in Nevada, which consists of four
high-grade heap-leachable deposits with
a total inferred gold resource of approximately
709,000 ounces (oz) averaging
2.23 grams per metric ton (g/mt) located
on a 143-km² land package approximately
185 kilometers (km) from Las Vegas
within the historic Walker Lane trend. The
high-grade Sterling gold deposit is a fully
permitted, past-producing mine with nearterm,
low-cost, low-capital production potential.
The remaining deposits are collectively
known as the Crown Block, which
contain significant exploration potential,
and the land package also includes 17
new targets that remain untested. The acquisition
adds multiple high-grade oxide
gold deposits to Coeur’s evolving development
pipeline that have the potential
to become future long-life, low-cost operating
assets. It also expands Coeur’s historical
focus on Nevada, considered one
of the world’s top mining jurisdictions.
Coeur said it will be focused on a quick
restart of the Sterling mine while aggressively
exploring the highly prospective
Crown Block and other targets.
As featured in Womp 2018 Vol 09 - www.womp-int.com