Gold Bar South - Afgan, Nevada

Location
Nevada, USA

Operator
McEwan Mining Inc.

Commodity
Gold

Royalty
1% NSR

EMX holds a 1% NSR royalty on the Gold Bar South area at McEwen Mining’s Gold Bar Project. The Gold Bar South (previously Afgan) royalty property contains a gold resource which is in production and provides EMX with near-term upside exploration potential in an important north-central Nevada mining district. The Gold Bar South royalty property lies along the prolific Battle Mountain - Eureka Trend, which includes the nearby Cortez district.

The Gold Bar South royalty property includes a semi-continuous, 1,050 by 450-meter north-northwest oriented zone of oxide gold mineralization that has been delineated by historic and recent drilling. The mineralization occurs along the contact of thinly bedded siltstones of the Webb Formation with the underlying Devils Gate Limestone, which is a classic geologic environment for hosting Carlin-type deposits in Nevada. The mineralization is controlled by a complex set of northeast- and northwest-trending structures and shows a spatial association with brecciated zones. Silicification is the dominant alteration type, although argillization is observed in the matrix of breccia zones.

McEwen provided an update for the Gold Bar operation in a feasibility study that included open pit resource and reserve contributions from GBS in a Technical Report filed on SEDAR titled “Gold Bar Project Form 43-101F1 Technical Report Feasibility Study Eureka County, Nevada” with an effective date of January 7, 2021 and a report date of February 22, 2021.*

 The Gold Bar South property began production in Q4 2022.

Note: Gold Bar South Resource and Reserve estimates accessed from McEwen Mining Inc.’s web site on March 20, 2022

*The Mineral Resources and Reserves have been estimated in accordance with CIM guidelines. The Mineral Resource estimate and related geologic modeling were conducted by, or under the supervision of Kelly Lippoth, C.P.G. of McEwen Mining Inc, Elko, Nevada. Ms. Lippoth is a Qualified Person, and not independent of McEwen for purposes of NI 43-101.Mineral Resources were reported by McEwen inclusive of Mineral Reserves. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. Contained metal does not account for recovery losses. The current Mineral Resources and Reserves represent the most recent publicly disclosed estimates for GBS. Rows and columns may not add up due to rounding.

Maps

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