Business
SSR Mining Provides July 2019 Exploration Update
VANCOUVER, July 30, 2019 /PRNewswire/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) ("SSR Mining") provides an update on its exploration activities and results
About this update from Ssr Mining Inc.
[{"type":"text","content":"VANCOUVER, July 30, 2019 /PRNewswire/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (\"SSR Mining\") provides an update on its exploration activities and results at its Marigold mine in Nevada, U.S., Seabee Gold Operation in Saskatchewan, Canada and Pitarrilla project in Durango, Mexico for the period from October 1, 2018 to May 31, 2019 (the \"Exploration Period\").\nPaul Benson, President and CEO said, \"Over recent years, we have continued to invest in our business, even in times of depressed precious metals prices. We are seeing the benefits of that investment now as we enter a period of anticipated increasing production, declining cash costs and continued exploration success.\nI am pleased to report that the exploration and technical work at Red Dot, at the Marigold mine, has provided increased confidence in the deposit's economics based on current assumptions, which include a gold price of $1,250 per ounce. Positively, we do not need to invest mining expansion capital considered in the Marigold Equipment Replacement Study to support Red Dot economics. Red Dot production is expected to be added to the current mine plan extending Marigold's life into the early 2030's. We continue drilling at Marigold and expect to commence soon an exploration program at the recently-acquired properties to the south of the mine. As a result, we expect to further grow Marigold's Mineral Reserves and Resources in years to come.\nWe have also had success at Seabee with exciting results in our Santoy Gap Hanging Wall area. We continue both infill and step out drilling and expect Santoy Gap Hanging Wall to extend the Seabee mine life. Finally, we are also announcing works aimed at expanding the Pitarrilla high grade zone, with the objective to improve the economics of that project to a double-digit IRR at spot silver price.\"\nHighlights:\nSuccessful Red Dot exploration program provides opportunity to extend Marigold mine life.Exploration success in 2019: Exploration drilling in 2018 and geotechnical drilling and engineering completed in 2019 support the conversion of Red Dot Mineral Resources.Marigold mine life extension: We expect Red Dot to extend the current Marigold life of mine plan into the early 2030's without the need for expansion capital.Mineral Reserves additions: We expect to report conversion of Red Dot Phases 2 and 3 Mineral Resource...