Bruner Project Overview

Economic Summary of Canamex‘s Bruner Gold and Silver Project Located in Nevada, United States

David Vincent
Oct 1, 2019 · 4 min read

Canamex Overview

Canamex Gold Corp is a public listed company registered in British Columbia, Canada, trading on the Canadian Securities Exchange (CSE:CSQ), and is engaged in fast-tracking toward development of the Bruner gold and silver project in the prolific gold jurisdiction of Nye County, Nevada. The region is home to several producing and past producing mines along the Walker Lane Trend.

Canamex completed a positive Preliminary Economic Assessment (PEA) on the Bruner project in 2016. Based on additional drilling conducted on the property, the company completed an updated PEA in 2018, which increased the resources and improved the economics of the project. Canamex is now moving the Bruner project forward into permitting and development on the strength of this positive updated PEA and the improving gold price environment.

Further information is available at

The Bruner Project

Bruner is the Canamex flagship gold mine development project, located in the prolific gold mining region of Nye County, Nevada. Canamex initially spent USD 6 million to for 70% interest in the project, then purchased the remaining 30% interest for USD 1 million to now own 100% interest in the project.

Successful drilling was executed in 2016–17 at two of the focus targets, which intersected significant intervals of gold immediately outside of the resources that contribute to the an updated January 2018 PEA.

Highlights of the January 2018 PEA

Drill Intercepts

Bruner has amongst the best drill intercepts in Nevada including 110m at 4.08 g/ton of gold and 57.9m at 5.23 g/ton of gold.

Additional Drill Targets

There are three highly prospective focus target areas, which are all highly accessible:

1. “Historic Resource” Area (‘HRA’)
2. “Penelas Mine” & “Penelas East”
3. “Paymaster Mine” (High Grade Area)

Additional targets include:

4. “NW (Bruno)” Large Disseminated Target
5. “Phonolite Ridge” Large Disseminated Target
6. “Bruner Mine” Vein Target

Metallurgy & Operations

Oxide heap leach processing is designed for 90% recovery of gold on single stage crushed material.

Gold extraction rates are +89% in 83 days on -3 inch and -3/4 inch crush size on the Historic Resource Area. Importantly, +80% gold extraction is shown over 40 days, with low reagent consumption = low operating costs. Cyanide leach-able gold is shown property-wide. Bottle roll tests returned an average of 97% gold extraction from both Penelas East and Paymaster discovery.

PEA Facilities Layout

The Bruner project is well located with good infrastructure, at a major structural intersection surrounded by multi-million ounce deposits; and excellent access from Nye County Road and Historic Resource Area drill roads.

From the January 2018 PEA, the potential leach pad and plant site has been identified. The project is only 20 km to the electric substation with up to 10 MW capacity available.

Return & Capital Payback Period

IRR before tax: 54.7% at $1472 per oz Au, 62.7% at 1536 Au per oz and IRR after tax: 49% at $1472 per oz Au, 54.7% at $1536 per oz Au. The initial capex is $US 38 million (including cost of powerline). The average annual gold production of 42,500 ounces Au (8-year mine life with 2-year recovery tail) over 10 years; and $US 577 per oz Au average cash cost for first 2 years of operation

Capital payback period is less than 15 months. Facility siting and first two years of production is entirely on patented claims to allow for a streamlined permitting process; and resource upgrade potential is mostly on patented claims.


The Bruner gold and silver project is 100% owned by Canamex, and is located in the safe mining jurisdiction of Nevada, USA. The 2018 PEA indicates that this project is robust at current gold prices with pre-tax IRR potentially in excess of 50%, with capital payback in the first 12 months of production.

The sale of a gold and silver metal stream against the project is one option to provide project financing in order to build the mine for production.

For further information on Canamex please visit our website or email

Canamex Gold Corp

Owner and developer of the prolific Bruner gold and silver…

David Vincent

Written by

BEng, Dip. FP — Market technical analysis, investment banking, corporate advisory, capital markets.

Canamex Gold Corp

Owner and developer of the prolific Bruner gold and silver project in Nye County, Nevada

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