SSR MINING ANNOUNCES POSITIVE EXPLORATION RESULTS AT MARIGOLD Oxide Intercepts Include 2.97 g/t Au Over 71.6 Meters and 10.47 g/t Over 16.8 Meters
News Release
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December 8, 2021
SSR MINING ANNOUNCES POSITIVE EXPLORATION RESULTS AT MARIGOLD
Oxide Intercepts Include 2.97 g/t Au Over 71.6 Meters and 10.47 g/t Over 16.8 Meters
DENVER – SSR Mining Inc. (NASDAQ/TSX: SSRM; ASX: SSR) (“SSR Mining” or the “Company”)
is pleased to announce results from 288 drillholes (275 reverse circulation and 13 core drillholes)
completed at the Marigold mine in Nevada, USA. The Company’s strategy to advance brownfields
targets proximal to existing infrastructure has yielded exceptional results in Nevada, as evidenced
by the extensive track record of mineral inventory growth throughout Marigold’s 32 years of
consecutive production. The Marigold mine currently has a mine life in excess of 10 years, and
these results support the extension and enhancement of future life of mine plans.
Resource development drilling at Marigold is focused in the New M illennium area around the
Basalt-Antler pit that historically produced approximately 1 million ounces at a grade of 0.75 g/t .
The New Millennium concept, unlocked by recent land acquisitions, targets low-cost resource and
reserve additions proximal to the Marigold plan of operations with the potential to complement the
existing life of mine plan. New oxide intercepts in New Millennium include:
• MRA7324: 10.47 g/t Au over 16.8 meters, including 18.72 g/t Au over 9.1 meters
• MRA7249: 7.88 g/t Au over 10.7 meters
• MRA7286: 1.51 g/t Au over 22.9 meters, including 2.17 g/t Au over 13.7 meters
• MRA7285: 0.96 g/t Au over 29.0 meters, including 1.45 g/t Au over 9.1 meters
• DDH7408: 1.49 g/t Au over 29.0 meters, including 2.78 g/t Au over 10.7 meters
In addition to drilling at New Millennium, SSR Mining continues to explore for supplemental oxide
ore sources across the broader Marigold land package. At the Trenton Canyon project located ~4
km south of New Millennium (Figure 1), drilling has delivered exciting high -grade intercepts of
predominantly oxide mineralization. Exploration at Trenton Canyon aims to define oxide material
that leverages existing infrastructure at Marigold to provide an avenue for production growth in
the future. Oxide intercepts from Trenton Canyon include:
• MRA7266: 2.97 g/t Au over 71.6 meters
• MRA7264: 6.53 g/t Au over 12.2 meters including 12.49 g/t Au over 6.1 meters
• MRA7316: 7.49 g/t Au over 10.7 meters
Rod Antal, President and CEO said, “ These exploration results highlight the potential to add
incremental oxide mineralization to Marigold’s already robust reserve life. By focusing on adding
ounces proximal to existing infrastructure at New Millennium, we are demonstrating opportunities
to build on Marigold’s near and medium -term future, while also continuing to systematically
explore the larger property for longer-term targets. We are working to expand and accelerate our
exploration efforts at Marigold as a precursor to complet ing an updated Marigold District Master
Plan technical report later in 2022.”
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Figure 1: Plan map showing target areas within the ~20,000-hectare Marigold land package
Marigold, Nevada
SSR Mining’s mineral holdings include a 100% owned ~ 20,000-hectare parcel containing the
currently producing Marigold mine as well as the past producing Valmy, Trenton Canyon, North
Peak, and Buffalo Valley mines.
Near mine exploration during the Exploration Period (May 1 st, 2020 to September 30 th, 2021)
focused on Mineral Resource addition s at New Millennium , enabled by land acquisitions
completed in 2016, 2018 and 2019. New Millennium represents a low cost, high probability
development opportunity in the Nevada portfolio and drilling at the target will continue with the
ultimate goal to extend operations at Marigold beyond its current mine life to 2032. The New
Millennium target area is comprised of six distinct zones which include East Basalt, Battle Cry,
Antler, Section 6, Lil’ Gun and North Antler (Figure 2).
Exploration drilling on the recently acquired Section 6 parcel has returned intercepts analogous
to the typical Marigold-style mineralization, including 22.9 meters at 1.51 g/t of Au from 248.4
meters in MRA7286, demonstrating bulk -tonnage potential at the far southern reaches of the
Marigold system. As our definition drilling programs continue, there is potential for the discrete
zones of mineralization to coalesce. Figure 3 provides select results from the drilling completed
at Section 6 and other New Millennium zones . The Company is also undertaking a re -assay
program of historical drill samples in the New Millennium area with potential to build on the
success of the re-assay program at Marigold’s Mackay deposit during 2015 -2016 which yielded
a 23% increase in estimated tonnage and a 13% increase in gold ounces within the Mackay pits.
The goal of this program is to capture low-grade gold assay values not recorded in the historical
dataset and integrate the results with the updated resource model. The first phase of this program,
which included the re-analysis of drill samples from two drill sections, yielded positive results
(Figure 4) and will now be expanded to encompass the entire project area.
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During the exploration period, a lesser amount of drilling was completed in the Valmy and Cross
Fire resource area. In June of 2021, SSR Mining submitted a proposed amendment to the
Marigold Plan of Operations to include the Valmy and Cross Fire resource areas. The Bureau of
Land Management is currently reviewing the proposal and we expect a decision in Q4 2021 ,
informing next steps with respect to National Environmental Policy Act requirements.
Figure 2. New Millennium project area at Marigold showing EOY2020 Mineral Resource outline
Figure 3. Oblique longitudinal section demonstrating potential impact of drilling reported during the
Exploration Period on EOY2021 Mineral Resources
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Figure 4. Cross section through Antler-Section 6 portion of New Millennium demonstrating positive impact
of re-assay on selected drill section
SSR Mining is also continuing exploration on the 100% owned 8,900-hectare land package to the
south of Marigold which includes the past producing Buffalo Valley, North Peak, and Trenton
Canyon mines. Given the varied nature of the known deposits and the discovery potential of
precious metal (distal Au -Ag) and polymetallic (skarn, porphyry) deposits in the district, the
Marigold team employs a comprehensive approach to its exploration programs. This included the
completion of a 14.5 km 2 multi-element soil geochemistry survey, the recent acquisition of a
proprietary airborne hyperspectral dataset, and completion of a 16.9 km seismic reflection survey.
Integration of these data increase the predictive capabilities of our teams and helps to generate
higher probability exploration targets. Exploration activities remain focused on the discovery of
supplemental oxide material capable of bolstering Marigold’s intermediate to long-term production
profile, leveraging spatial proximity to New Millennium and potential infrastructure synergies.
Trenton Canyon
SSR Mining’s exploration objective at Trenton Canyon is to delineate Mineral Resources and
Reserves in oxide material capable of potentially supporting stand-alone heap leaching facilities.
Confirmation drilling within the Relay Ridge deposit in hole MRA7266 returned 2. 97 g/t Au over
71.6 meters (oxide) and illustrated the localized higher-grade nature of the mineralization. Similar
to New Millennium, the oxide inventory at Trenton Canyon currently consists of isolated mineral
centers. Definition drilling to delineate the extents of these mineral centers and potential continuity
is ongoing.
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Buffalo Valley
SSR Mining’s objective at Buffalo Valley is to convert the historically delineated mineral inventory
into Mineral Resource and Reserve category with the goal of enabling a potential satellite
operation to supplement Marigold’s intermediate to long -term production profile. The historical
Indicated Mineral Resources for Buffalo Valley host approximately 418,000 ounces of gold (20
million tonnes at an average grade of 0.65 g/t) as of December 31, 2018 1. Geotechnical and
metallurgical drilling proximal to the Buffalo Valley pit is scheduled for Q4 2021.
Table 1. Significant oxide gold intercepts at Marigold and Trenton Canyon.
Hole ID From
(m)
To
(m)
Length
(m)
Gold
(g/t) Oxidation State Area
MRA7249
65.5 76.2 10.7 7.88 Oxide
East Basalt
79.2 82.3 3.0 0.69 Oxide
MRA7264 94.5 106.7 12.2 6.53 Oxide
Trenton Canyon
including 94.5 100.6 6.1 12.49 Oxide
MRA7266
24.4 27.4 3.0 0.44 Oxide
Trenton Canyon
32.0 44.2 12.2 1.22 Oxide
56.4 128.0 71.6 2.97 Oxide
including 56.4 111.3 54.9 3.45 Oxide
including 115.8 125.0 9.1 1.95 Oxide
MRA7285 115.8 121.9 6.1 3.44 Oxide
Section 6
including 115.8 118.9 3.0 6.22 Oxide
204.2 211.8 7.6 2.64 Oxide
including 205.7 210.3 4.6 4.03 Oxide
237.7 266.7 29.0 0.96 Oxide
including 242.3 245.4 3.0 1.65 Oxide
including 248.4 257.6 9.1 1.45 Oxide
271.3 278.9 7.6 0.51 Oxide
MRA7286 208.8 217.9 9.1 2.11 Oxide
Section 6
including 208.8 214.9 6.1 2.79 Oxide
234.7 243.8 9.1 0.84 Oxide
including 236.2 240.8 4.6 1.14 Oxide
248.4 271.3 22.9 1.51 Oxide
including 256.0 269.8 13.7 2.17 Oxide
306.3 313.9 7.6 4.38 Oxide
342.9 346.0 3.0 0.49 Oxide
MRA7289
169.2 172.2 3.0 0.33 Oxide
Section 6
176.8 185.9 9.1 0.83 Oxide
including 178.3 181.4 3.0 1.45 Oxide
219.5 245.4 25.9 1.03 Oxide
including 219.5 228.6 9.1 1.59 Oxide
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Hole ID From
(m)
To
(m)
Length
(m)
Gold
(g/t) Oxidation State Area
253.0 263.7 10.7 0.62 Oxide
266.7 269.8 3.0 0.49 Oxide
356.6 362.7 6.1 0.92 Oxide
including 356.6 361.2 4.6 1.00 Oxide
MRA7324 227.1 243.8 16.8 10.47 Oxide
East Basalt
including 227.1 236.2 9.1 18.72 Oxide
DDH7408
132.3 140.8 8.6 0.73 Oxide
Section 6
168.2 197.2 29.0 1.49 Oxide
including 168.2 178.8 10.7 2.78 Oxide
including 182.7 186.5 3.8 1.05 Oxide
226.2 235.3 9.1 0.85 Oxide
including 226.2 229.2 3.0 1.74 Oxide
238.4 242.9 4.6 0.48 Oxide
Drill intercepts reported above a gold grade of 0.3 g/t and with a minimum length 3.0 meters with a maximum contiguous internal
dilution of 2.5 meters. All lengths reported above are downhole length and true thickness are not known at this stage.
Sulfide Exploration
While the Company continues targeting additional oxide inventory across the greater Marigold
property, we are simultaneously exploring for structurally controlled sulfide mineralization
potentially amenable to alternative mining & processing methods than those currently utilized at
Marigold. Building on results announced May 14, 2020, exploration efforts have focused on the
Tempest zone, a series of high-grade structures proximal to the past-producing South and West
pits at Trenton Canyon (Figure 5). Results from drillhole MRA7405 include 9.1 meters at 18.69
g/t Au (sulfide) from 182.9 meters (Figure 6). At Buffalo Valley, exploration drilling is focused on
understanding the geometry and orientation of mineralized structures identified by historical
drilling outside of the mine area in addition to drill testing of new targets. Historical drilling
previously returned exceptional results, including an anomalously high -grade intercept of 4.6
meters from 283.5 meters at 127.89 g/t Au in hole F95-1, 1.5 km northwest of the Buffalo Valley
pit, demonstrating the excellent exploration potential throughout the land position.
The ongoing surface mapping along with results of our geochemical survey are informing
interpretation of historical and recent SSR Mining drill results. We are applying this understanding
to a robust collection of high-quality and underexplored targets throughout the extensive Trenton
Canyon and Buffalo Valley projects.
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Figure 5. Plan view of Trenton Canyon project area highlighting drilling focus on Tempest zone proximal to
previously mined pits. Drillholes with prefix DNT are historical drillholes drilled by Newmont Corporation
("Newmont").
Figure 6. Oblique longitudinal section demonstrating potential impact of drilling reported during the
Exploration Period on currently unclassified mineral inventory at Trenton Canyon proximal to the West pit.
Drillholes with prefix DNT are historical drillholes drilled by Newmont.
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Table 2. Significant sulfide gold intercepts at Trenton Canyon from the Exploration Period.
Hole ID From
(m)
To
(m)
Length
(m)
Gold
(g/t) Oxidation State Area
MR7233
13.7 16.8 3.0 0.57 Oxide
Trenton Canyon
41.1 45.7 4.6 1.40 Oxide
140.2 143.3 3.0 0.43 Sulfide
221.0 230.1 9.1 16.74 Sulfide
including 221.0 227.1 6.1 24.98 Sulfide
233.2 242.3 9.1 0.95 Sulfide
245.4 249.9 4.6 0.68 Sulfide
292.6 315.5 22.9 0.53 Sulfide
including 301.8 304.8 3.0 1.26 Sulfide
425.2 429.8 4.6 0.56 Sulfide
MRA7405
157.0 163.1 6.1 5.66 Sulfide
Trenton Canyon
169.2 172.2 3.0 0.94 Sulfide
182.9 198.1 15.2 11.49 Sulfide
including 182.9 192.0 9.1 18.69 Sulfide
208.8 211.8 3.0 0.38 Sulfide
214.9 217.9 3.0 0.50 Sulfide
227.1 230.1 3.0 0.39 Sulfide
249.9 253.0 3.0 0.88 Sulfide
268.2 272.8 4.6 1.02 Sulfide
281.9 291.1 9.1 0.43 Sulfide
294.1 326.1 32.0 1.33 Sulfide
including 306.3 318.5 12.2 2.53 Sulfide
329.2 332.2 3.0 0.43 Sulfide
335.3 346.0 10.7 0.44 Sulfide
349.0 381.0 32.0 0.86 Sulfide
including 365.8 368.8 3.0 1.48 Sulfide
including 376.4 381.0 4.6 1.86 Sulfide
385.6 388.6 3.0 0.93 Sulfide
391.7 397.8 6.1 1.99 Sulfide
Drill intercepts reported above a gold grade of 0.3 g/t and with a m inimum length 3.0 meters with a maximum contiguous internal
dilution of 2.5 meters. All lengths reported above are downhole length and true thickness are not known at this stage.
1 Mineral Resources disclosed by Newmont (Newmont Press release dated February 21, 2019) have been
grossed up to illustrate 100% SSR Mining ownership of Buffalo Valley and are subject to rounding. Metal
price used for Mineral Resources estimate is $1,400 per ounce of gold. Mineral Resources that are not
Mineral Reserves and do not have demonstrated economic viability.