Atna Resources Ltd.

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Pinson Gold Mine Project, Nevada

 

Pinson is located near Winnemucca, in Humboldt County, Nevada, on one of the premier gold trends in northern Nevada. The mine is in the south-central portion of the Getchell Gold Belt southwest of Barrick's Getchell/Turquoise Ridge Mines and Newmont's Twin Creeks Mine complex. Gold mineralization is characterized as a Carlin-type, sediment-hosted gold system hosted by the same sequence of Ordovician sedimentary rocks that hosts the gold deposits of Twin Creeks and Turquoise Ridge mines to the north.

The Pinson mine produced 985,000 ounces of gold from 1980 through 1999 by open pit mining with heap leach and oxide mill processing. Atna controls four square miles of land (2,480 acres) containing all areas of past gold production and the area containing the currently estimated mineral resources.

Atna, in conjunction with its former joint venture partner Pinson Mining Company (PMC), a subsidiary of Barrick Gold Corporation, commenced underground exploration of the property in 2004. This activity continued through 2011, at which time Atna acquired PMC's interest in the property. In early 2012 Atna commenced mine development activity and mine ramp-up began in late 2012 with increasing development and production output through this period. Substantial development has been completed at the Pinson-underground mine. The primary spiral was driven to the 4530 level and underhand ore mining occurred in three Ogee-zone stope blocks. In June 2013, the mine was placed on care and maintenance status due to deteriorating gold market conditions and Atna's limited financial ability to support ongoing development. .

View, NI 43-101 Technical Report, dated October 17 2014

In June 2014, Atna re-commenced mining after making a number of changes to the project, including those in mine planning, mining method, operating and processing contracts, and mine management, allowed for a successful restart. 

Notable advances include the following:

  • Pinson entered into an ore sales agreement to sell both oxide and refractory sulfide ores to the nearby Twin Creeks operation of Newmont. These agreements include the ability to sell small lots of ore, thus reducing working capital requirements. The close proximity of Twin Creeks to Pinson (8 miles) substantially reduced ore transportation cost.
  • Sulfide ore gold recovery has averaged 94% to 95% in the Twin Creeks autoclave facility, a substantial improvement over the 85% to 86% recovery achieved when Pinson sulfide ore was processed in a roasting facility in 2013.
  • Pinson successfully tested its first long-hole mining stope, so far producing approximately 6,300 tons of ore at a grade of 0.357 ounces per ton from a stope measuring 100 feet long by 45 feet high and 40 feet wide. This test proved the quality of ground conditions and rock strength required to support this low cost mining method. Prior mining had exclusively utilized the substantially higher cost underhand cut-and-fill mining method. 
  • Mine plans have been developed to optimize production and costs, using long-hole stoping wherever feasible.
  • A local underground mining contractor was retained on a productivity-based mining contract, replacing the previous time and material contract. This has resulted in substantially lower mining costs than were experienced in the 2012-2013 development of Pinson.  

 

Pinson Underground Mineral Reserves 

Category

Tons (1,000)

Gold -- oz/ton

Contained Gold Ounces(1,000)

Proven

70

0.384

27

Probable 327 0.408 133

Total

397

0.403

160

 

 

Estimate of Resource 

Category

 

Tons

Gold Grade

Contained Ounces

 

(1,000)

(oz/ton)

(1,000 Ounces )

Pinson UG        

Measured

  67.7 0.543 37.9

Indicated

 

736.9

0.419

309.1

Measured &  Indicated

 

806.6

0.43

346.9

Inferred

 

1,671.9

0.419

700.7

Pinson OP        

Measured

  21,159 0.035 732

Indicated

  4,307 0.058 250

Measured &    Indicated

  25,466 0.039 982

Inferred

  824 0.034 28

 

The information presented on this web page was prepared under the supervision and review of William Stanley, V.P. Exploration of Atna, a Registered Member of the Society for Mining, Metallurgy, and Exploration, a Licensed Geologist and Qualified Person, as defined in NI 43-101, and has verified the authenticity and validity of the technical information contained herein.

 



 



Photos
Pinson Photo Gallery
Click to view a selection of photos from Pinson.