Goldrich-NyacAu ramps up placer gold operations in northern Alaska
Last updated 8/28/2016 at Noon
Goldrich Mining Co. Aug. 22 provided an update on placer gold operations at the Chandalar project in northern Alaska.
As of Aug. 17, about 5,430 ounces of fine gold had been recovered from processing material stockpiled in 2015 as well as pay gravel mined in 2016.
This includes 2,942 oz. of fine gold produced since the beginning of July.
The gold recovered during this period was from the upper half of Little Squaw Creek but most of it was from outside the area of mineralized material previously delineated by Goldrich.
The Chandalar placer mine is being operated by Goldrich NyacAU Placer LLC - a 50-50 joint-venture between Goldrich and NyacAU LLC. In addition to supplying its placer mining expertise, NyacAU fronted the capital needed to get a commercial operation going at Chandalar.
Goldrich's contribution to the partnership is large deposits of placer gold in the valleys of its Chandalar property, including nearly 250,000 oz. of gold in a 10.5 million-cubic-yard alluvial deposit on Little Squaw Creek with an average grade of about 0.0243 oz. of gold per yard.
At full capacity, the recovery plant at Chandalar is expected to process 600 cubic yards of placer material per hour, which will be realized as gravel screens and gold recovery tables are added in stages.
Subject to weather at the arctic project, the gold recovery plant is expected to run through mid-September.