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Gold Bar

About Gold Bar

Located in Eureka County, Central Nevada

The Gold Bar mine is located in the southern Roberts Mountains of the Battle Mountain-Eureka-Cortez gold trend in Eureka County, Central Nevada.

Historical production at Gold Bar includes 134,000 gold ounces obtained between 1991 and 1994 from Gold Pick and Gold Ridge, at an average mining grade of 2.5 grams per tonne (0.074 ounces per ton). The Gold Pick, Gold Ridge and Cabin Creek deposits of the property are included in McEwen Mining's plans of open pit operations and the Gold Bar South deposit is now in the process of being added to the mining plan.

25 miles southeast of the Gold Bar property is Waterton Global’s Ruby Hill mine and 25 miles north and northwest is the Nevada Gold Mines joint venture of Barrick and Newmont, with the Cortez-Goldrush cluster holding over 10 million gold ounces in reserves and 50 million gold ounces in past production and current resources.

About Diagram About Diagram
Gold pile



819,000 OZ AU


201,000 OZ AU

As of Dec 31, 2018 (see press release dated Feb 21, 2019).


The Gold Bar property is located on patented lands and public lands managed by the Bureau of Land Management (BLM) Battle Mountain Field Office. Since 2013 McEwen Mining has been through an ongoing pursuit to build the Gold Bar mine. During this time, the Company has overcome many challenges involved in bringing a new mining project to fruition. A signed Record of Decision on the Final Environmental Impact Statement published by BLM in November 2017 marked the completion of the National Environmental Protection Act process. Gold Bar is the first new gold mine in Nevada to gain permit approval in several years.

During the mine permitting years, exploration at Gold Bar has been limited. After obtaining the permit approval in late 2017, a property-wide exploration program was started, with the objective to extend the life of the mine by expanding the mineral inventory surrounding the planned open pits and testing new targets.

Exploration delivered encouraging results, through initial drilling focused on three areas: northwest of the planned Gold Pick open pit, northwest of the planned Gold Ridge open pit, and in-between Gold Pick and Gold Ridge. A new shallow oxide zone of mineralization has been identified in Hole GB257, which returned 0.040 opt (1.4 gpt) gold over 55 ft (16.8 m) starting at a depth of 30 ft (9 m). Holes that encountered significant mineralization had a weighted average grade and thickness of 0.03 opt (1 gpt) gold over 50 ft (15.2 m), comparable to the average grade of the deposit (click here for a table summarizing the new drilling results).

In February 2018 we announced an updated feasibility study for Gold Bar (click here for the press release), prepared in accordance with the requirements of the Canadian National Instrument 43-101 “Standards of Disclosure for Mineral Projects”. Key changes to the implementation strategy of the Gold Bar mine, such as the addition of a crushing, conveying and agglomeration plant and changes in heap leach pad construction, were made with the goal of reducing overall project risk, while maintaining the highest capital efficiency. The resulting increase in capital costs over the previous estimate was offset by a 20% increase in total gold production.

Through the remainder of 2018, additional drilling and improved economic factors, such as higher gold recoveries and lower waste mining costs, continued to increase resources and reserves at Gold Bar - resources increased mostly in the Gold Pick and Gold Ridge areas and the 8% increase of reserves extended Gold Bar’s estimated mine life from 6.3 years to 7.4 years (see Feb 21, 2019 press release for updated mineral resource and reserve estimates).

Gold Bar South is a property acquired by McEwen Mining in 2016. It consists of 109 mining claims located approximately 3.5 miles (5.5 km) southeast from our Gold Bar mine. Gold Bar South hosts a near surface oxide gold deposit which, based on several historical higher-grade drill intersections, shows exploration potential laterally and at depth. It is seen as a satellite resource that can contribute to Gold Bar mine's production.

2019 infill and pit definition drilling program at Gold Bar South was targeted to add this deposit to the mine plan and reserve. Results were positive, with 25% of the new drill intersections showing higher grades than the current resource average of 0.029 ounces per ton (1 gram per tonne). New mineralized structures were identified outside the existing resource, including notable intersections such as 6.66 gpt over 24 meters, 2.16 gpt over 46 meters and 2.13 gpt over 55 meters (for more results see press release from Aug 20, 2019). These results suggest the potential to increase the size of the Gold Bar South resource beyond the current Indicated estimate of 3.5 Mtons at 0.029 opt (1 gpt) for 100,000 ounces of gold. Drilling continued to assess the higher grade mineralization with potential to extend the designed open pit. Economic studies and permitting are underway with the objective of incorporating Gold Bar South into the overall mine plan, so that open pit development could begin in late 2020.

In 2019 Gold Bar had the first ingot poured in February and commercial production achieved at the end of May. With ore grades reconciling with the reserve model, gold recoveries tracking well to the feasibility study's design and the mine's throughput continuing to increase, Gold Bar reached a production of 30,700 gold ounces in 2019.

of the
Feb 2018

The updated feasibility study, "Gold Bar Project - Form 43-101F1 Technical Report Feasibility Study, Eureka County, Nevada" is available here to download.

Oxide ore will be mined from three open pits, Gold Pick, Gold Ridge Cabin Creek, transported, crushed, screened, conveyor-stacked on a heap leach pad, agglomerated and processed by an ADR carbon plant.

Capex $81 million
Pay-Back Period 3 years @ $1,250/oz gold, 2.5 years @ $1,350/oz gold
After-Tax IRR 23% @ $1,250/oz gold, 32% @ $1,350/oz gold
After-Tax NPV-5% $54 million @ $1,250/oz gold, $87 million @ $1,350/oz gold
Production Rate 8,000 tons ore/ day
Production Profile 62,800 oz gold/ year
Costs per Ounce $770/oz Cash Cost, $843/oz All-in Sustaining Cost
Life of Mine Production 16.5 M tons @ 1.0 gpt for 397,700 oz gold*

*Based on the Dec 31, 2018 reserve estimate update, the Life of Mine is now extended to 7.4 years.
($1,250 / oz gold)
($1,350 / oz gold)
IRR (%) 23 32
NPV @ 5% Discount ($ millions) 54 87
Average Annual Cash Flow ($ millions) 21 27
Average Operating Margin Per Ounce ($) 364 457
Payback Period (years) 3.1 2.5

The Feasibility Study's base case uses a gold price of $1,250 per ounce and generates a Life-of-Mine after-tax free cash flow of $150 million, an internal rate of return (IRR) of 23%, an after-tax net present value (NPV-5%) of $54 million, an average annual after-tax cash flow from operations of $21 million per year, an average operating margin per ounce of $364 and a payback period of 3.1 years.

The results of the study are disclosed on an after-tax basis.