Cortez, Nevada, United States of America
OPERATOR: Barrick Gold (61.5%) and Newmont (38.5%)
Sustainability: Community Impact Report
ACQUISITION DATE: November 19, 2020
ACQUISITION PRICE: $35 million
Uncapped Sliding Scale Royalty
Annual US$500k annual royalty begins Jan 2025 if Robertson not in production by Dec 31 2024 for 10 years
Upcoming Catalysts & Milestones
- Pre-Feasibility in progress
- Exploration upside identified
- Notice of Intent – Q2 2022
- Record of Decision – Q2 2023
- Initial Production – Q4 2024
1987 Exploration identifies near-surface gold
2007 Drilling encounters the Lower Plate
2012 Completion of PEA
2013 Completion of Environmental Assessment
2019 NGM continues development
2020 NGM includes Robertson in 5-year mine plan
2021 Robertson defined as an emerging Tier 2 asset
At the Cortez Mine Complex, growth activities in respect to the Robertson property are progressing. On May 25, 2021, Barrick discussed the progression of the Robertson deposit in detail during its annual Nevada Gold Mines Investor Day.
As per Barrick, Robertson is currently being qualified as an Emerging Tier Two Gold Asset, defined as an asset with a reserve potential to deliver a minimum 10-year life, annual production of at least 250,000 ounces of gold and total cash costs per ounce of gold over the mine life that are in the lower half of the industry cost curve. Several positive milestones are upcoming, with the Notice of Intent planned for the second quarter of 2022, a Record of Decision for the second quarter of 2023, and most significant to Nomad, initial production during the fourth quarter of 2024, subject to permitting. A pre-feasibility study is currently being prepared with respect to the development of Robertson. It is expected that equipment and manpower from the Cortez operation will be transferred to Robertson once the Crossroads Open Pit mine is completed. The leach grade ore is to be processed through a High-Pressure Grinding Roll (HPGR) Crusher and the higher grades processed at the existing Pipeline oxide mill.
On the exploration front, Barrick stated that upside has been identified within the current surface oxide deposit at Robertson, and that additional material in the range of 50 to 60 million tonnes at grades between 0.3 g/t and 0.5 g/t gold could be projected at or near surface. Additionally, a new mineralized structure at Robertson parallel to the main ore controlling structure had been defined.
Additionally, the corridor between Robertson and the existing Pipeline operation has been identified as an area of strong interest for deep exploration. This represents a seven kilometer trend with the potential for larger multimillion ounce deposits. There are currently five areas of interest within this corridor.