Nord Precious Metals Outlines Path to Production Following Gowganda Acquisition

Core Viewpoint - The acquisition of four mining leases from Battery Mineral Resources Corp. positions Nord Precious Metals Mining Inc. as a significant player in the Gowganda Silver Camp, coinciding with record silver prices and supportive provincial initiatives for critical minerals processing [1][11][14]. Consolidation of Mining Leases - The transaction consolidates both surface tailings and underground infrastructure, adding four historic production shafts to Nord's existing operations, totaling eight shafts in the Gowganda district [2][6]. - The Miller Lake-O'Brien complex, part of the acquired leases, includes extensive underground development that previous operators did not fully exploit, with historical operations ceasing in 1964 [3]. Exploration Potential - A 3D geological modeling program at Castle East has identified 29 mineralized veins, confirming the exploration potential of the lower contact of the Nipissing diabase, which underlies the acquired properties [4]. - The historical resource in the acquired leases is classified as an indicated resource of 1,940,000 tonnes grading 47.5 g/t silver, potentially yielding 2,960,000 ounces of silver [15]. Processing Capabilities - TTL Laboratories, the only permitted high-grade milling facility in the Cobalt Camp, has previously produced refined silver dore, including a 1,000-ounce silver bar from Cobalt Camp material [10]. - The acquisition provides additional feed material for TTL's operations, enhancing Nord's integrated model as a silver-cobalt producer [11]. Regulatory and Strategic Context - The Ontario government has launched a $500 million Critical Minerals Processing Fund to support domestic processing, aligning with Nord's objectives [14]. - The Recovery Permit application for tailings processing is advancing with Ministry support, allowing for toll processing arrangements for third-party tailings [5][12]. Historical Production Insights - The Gowganda Silver Camp produced over 60 million ounces of silver and 1.3 million pounds of cobalt from 1909 to 1989, with the acquired leases encompassing three of the five largest past-producing mines in the area [7][8]. - The broader Cobalt-Gowganda-Silver Centre district has a total historical production of approximately 550 million ounces of silver and 26 million pounds of cobalt [8].