Goldfield District Project

Goldfield is a conventional open-pit, heap leach project located in a Tier 1 mining jurisdiction and contains three known deposits. The Goldfield district has 100+ year history, including past production of +4Moz Au¹.

Having acquired this project in 2022, Centerra plans to further refine existing technical studies undertaken to date by the previous owner, with a resource estimate expected to be released in the first half of 2023 and an updated technical study thereafter.

Goldfield is located on the Walker Lane trend in Esmeralda County, Nevada, USA, ~30 miles south of Tonopah, with claims totaling ~15,300 acres or ~62Km². The property can be accessed via U.S. Highway 95 from Las Vegas or Reno.

The Goldfield project is a conventional open-pit, heap leach project in late-stage development, with three known deposits: Gemfield, Goldfield Main, and McMahon Ridge. These deposits are to be developed in a two-phased approach:

Phase I – Gemfield deposit

Phase II – Goldfield Main and McMahon Ridge deposits

The future operation is expected to be low-cost with the use of a simple processing method that includes three-stage crushing and heap leaching, followed by an ADR plant treatment to produce the doré.

Goldfield is an underexplored property in a prolific mining jurisdiction that provides substantial upside potential, as it has been largely unexplored by modern systematic exploration methodologies.

Numerous targets have been identified for drill-ready regional exploration. Future infill and resource expansion drilling, district-scale exploration drilling, and land consolidation opportunities have the potential to increase the resources further and extend the future mine life of the project.

Drilling activities at the property are expected to commence in 2022.

_{⁽¹⁾ Ashley, R.P., 1990a, The Goldfield gold district, Esmeralda and Nye Counties, Nevada, in Shawe, D.R., and Ashley, R.P., eds., Epithermal Gold Deposits—Part 1: U.S. Geological Survey Bulletin 1857–H, p. H1–H7, https://pubs.usgs.gov/bul/1857h/report.pdf}