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Mission Statement: Golden Predator's aggressive strategy centers around the highly prospective geologic terrain surrounding its Springer Complex in north central Nevada. The company has targeted early Tungsten production from its existing mine and mill. A new gold mill is being permitted for the site to exploit the region's many smaller high grade precious metal resources. To perpetuate its aggressive growth strategy and ultimately become a mid-tier resource company, Golden Predator is concurrently identifying numerous W and Au resource opportunities to feed Springer through corporate takeovers, friendly mergers, property staking, resource purchase, as well as concentrated exploration and expansion of our Premier properties. We will do this with good stewardship of the environment, a detailed attention to safety, and with the utmost respect for our employees and neighbors.
Tungsten Mine and Mill
Golden Predator acquired the Springer Mining and Milling Complex in November 2006 from General Electric Company through a loan facility with Energy Metals Corporation.
October Investors Tour At Springer
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The Springer Mine is a former tungsten (WO3) producer located in Pershing County, Nevada, approximately 7.5 miles north of Mill City between Winnemucca and Lovelock and just off of interstate I-80. Existing infrastructure at Springer consists of a 1,300 foot vertical shaft and mine workings, primary and secondary crushing stations, a small tungsten ore stockpile, 1,000 tons per day mill and sulphide flotation circuit, and a tailings pond. Certain water rights necessary for operation of the Springer mill were also acquired. Golden Predator purchased these facilities for US$4.5 million plus less than $1 million in reclamation bonding obligations to General Electric.
The Springer mine and mill opened in early 1982 at a cost of US$55 million through a joint venture between General Electric and Utah International. It was soon closed in October 1982 due to falling tungsten prices and the facilities have been held on a care and maintenance basis with no mining activities having been carried out since that time.
Historic tungsten resources as calculated by General Electric in March 1983 are 3.59 million tons (3.26 million tonnes) grading 0.446% WO3 for a total of 1.60 million stu WO3 (1 short ton unit - 20 pounds. The identified histroric resources are sufficient for a 12.8 year mine life at 1000 tpd.)*.
Although acquisition of the Springer Facility presents a unique opportunity for the company to come to a production decision on this strategic metal with existing mine development and milling facilities already in place, Golden Predator has a bigger picture in mind. Springer is located in northern Nevada in the heart of America's most prolific gold district. With the planned addition of a separate gold processing circuit, and utilizing current water rights and tailings infrastructure with modifications, the Springer complex will be the only independent operating gold mill in northern Nevada.
This area of the Great Basin is one of the most gold-endowed portions of the Earth's crust. It is home to numerous advanced-staged gold exploration projects, which because of variable factors including lack of a water supply and tonnage, were not able to support the construction of a mill. Indeed, many of these projects were also evaluated at a time when gold was half of its current price.
Click to Enlarge
Surface drilling to extend known areas of open pit tungsten
mineralization immediately north of the Orphan Boy Pit
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*These resources are not compliant with NI-43-101 and have not been verified by a Qualified Person. The company is not relying on these resource estimates as being NI43-101 compliant.
Photos
Click on image to enlarge
Rope rescue training at the Springer Mine - Newmont Mining personnel are gratefully acknowledged for their participation |
Rope rescue training at the Springer Mine - Newmont Mining personnel are gratefully acknowledged for their participation |
Rope rescue training at the Springer Mine - Newmont Mining personnel are gratefully acknowledged for their participation |
Rope rescue training at the Springer Mine - Newmont Mining personnel are gratefully acknowledged for their participation |
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