Golden Heart
Golden Heart Deposit is a high-grade open-pit gold project in Saskatchewan’s La Ronge Gold Belt with over 500,000 ounces of measured and indicated resources.
Project Overview
The Golden Heart Deposit in Saskatchewan’s La Ronge Gold Belt is a shear-hosted orogenic gold system, with gold found in quartz veins and altered wall rock along northwest-dipping shear zones. Mineralization is associated with silicification, pyritization, and erratic free gold distribution.
The Golden Heart Deposit has a total measured and indicated (M+I) resource of 9.8 million tonnes at 1.59 g/t gold, containing 500,800 ounces, all of which are pit-constrained. In addition, inferred resources amount to 3.4 million tonnes at 1.26 g/t gold for 137,700 ounces, split between 3.2 Mt pit-constrained at 1.12 g/t (116,100 oz) and 158 kt out-of-pit at 4.25 g/t (21,600 oz).
Distance from Jolu Mill
60KM
Property Area
2338HA
Ownership by Midas
100%
Royalty
0%
Mineral Resources
1. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
2. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
3. The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
4. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could potentially be upgraded to an Indicated Mineral Resource with continued exploration.
5. Historical mined areas were depleted from the reported Mineral Resources.
6. The following parameters were used for the pit optimization and the Mineral Resource cut-off value determination: US$1,925/oz Au (approximate two-year trailing average from April 30, 2024); FX US$/CAD$ = 0.75; Au process recovery = 90%; Open pit mining cost for mineralized material = CAD$4.00/t mined; Open Pit Mining Cost for Waste: CAD$3.00/t mined; Open Pit Mining Cost for Overburden = CAD$2.50/t mined; Processing Cost = CAD$18/t processed; G&A = CAD$4/t processed; and Pit slopes = 50°. Out-of-pit mining costs are CAD$175/t mined.
Reports
- TECHNICAL REPORT AND UPDATED MINERAL RESOURCE ESTIMATE OF THE GOLDEN HEART PROJECT