Mule Canyon gold resource advances restart plans

AI desk brief

Central Nevada Gold outlined an initial resource at Mule Canyon in Nevada as it advances plans for a restart decision in 2028. The project hosts 663,000 oz. indicated at 1.73 g/t and 1.02 million oz. inferred at 1.52 g/t, with conceptual pit shells built on a $3,800/oz gold price and 93% recovery assumption.

Next steps are prefeasibility, permitting, and infill drilling to upgrade the inferred resource, which makes up about 61% of contained ounces. The company says Mule Canyon has grid power, water rights and historical production, and it completed a $33 million financing in September led by Orion Mine Finance to fund drilling, the PFS and permitting.