Exploration

Goldfield Project

NEVADA USA

Goldfield is located on the Walker Lane trend in Esmeralda County, Nevada, USA, a tier one mining jurisdiction, ~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.

Having acquired the project in 2022, Centerra continues its exploration of the large land package, with a focus on oxide and transition material. An initial resource estimate will be contingent on exploration success and metallurgical test work.

Project Overview

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.

Centerra is currently evaluating the project scope of work to optimize the flowsheet capital costs and maximize returns. The project is expected to be a conventional open-pit, heap leach mine with a simplified crushing process for oxide material.

Exploration

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 commenced in 2022 and remain ongoing.

Epithermal Gold Deposits—Part 1: U.S. Geological Survey Bulletin 1857–H, p. H1–H7, https://pubs.usgs.gov/bul/1857h/report.pdf