Silver Standard Resources Inc. Officials at Silver Standard Resources Inc. have announced the 100% purchase of the Marigold mine in Nevada from Goldcorp Inc. and Barrick Gold Corp. subsidiaries for a cash consideration of $275 million.

The complex, according to officials, will provide immediate cash flow from a prolific gold-silver region while allowing open-pit capability leverage. "We welcome new team members as Marigold upgrades our portfolio quality," said CEO John Smith. “They will provide invaluable expertise;" the mine has 360 emloyees.

Marigold, an open-pit gold mine that lies in Humboldt County north of the Battle Mountain-Eureka trend, has seen continuous production since 1988. Ore is mined by conventional truck and shovel equipment and processed via a large run-of-mine heap leach operation with 40,000 ton per day (tpd) capacity. In 2013, Marigold produced 162,000 gold oz, and is expected to produce up to 150,000 gold oz this year.

Resource Center Whitepapers, Videos, Case Studies