Marigold (Au)


Location: Nevada, United States
Operator: SSR Mining Inc.
Royalty: NSR: 1.75-5% / GR: 0.5-4%

The Marigold mine is located approximately 64 km southeast of Winnemucca, Nevada on the Battle Mountain-Eureka Trend and is operated by SSR Mining Inc. (“SSR Mining”). SSR Mining purchased the mine from joint venture partners Goldcorp (66.7%) and Barrick (33.3%) in 2014. The mine has been in continuous production since 1988 and is a large run-of-mine heap leach operation with several open-pits. Franco-Nevada has various royalties on the operation (1.75-5% NSR and 0.5-4% GR), as shown in the schematic, together covering almost all of the current Mineral Reserve base. Franco-Nevada’s original royalties were acquired in connection with its IPO and, in December 2009, additional royalties covering alternate sections were added.

The mine produced 234,000 ounces in 2020 versus 220,227 ounces in 2019. For 2021, SSR Mining expects production to be between 235,000 to 265,000 ounces. Based on the updated life of mine plan released in June 2018, SSR Mining anticipates annual production to average more than 230,000 ounces over the next 5 years, with peak production of more than 265,000 ounces of gold in 2021 and 2022. The life of mine plan predicts active mining through 2028 with residual leaching producing gold through 2032.

On October 30, 2019, Marigold received a positive Record of Decision (“ROD”) from the Bureau of Land Management regarding the new Marigold Environmental Impact Statement. The receipt of the ROD permits mining of the Mackay open-pit complex including Red Dot and associated features such as leach pads and dumps. Red Dot is anticipated to extend the Marigold mine life into the early 2030s, without requiring expansion of the haul fleet or the associated expansion capital.

On March 29, 2021, SSR Mining announced updated Mineral Reserves and Mineral Resources as at December 31, 2020. Including pad inventory Mineral Reserves of 3.69 million gold ounces were reported, with M&I Resources inclusive of Reserves of 5.38 million gold ounces and Inferred Resources of 334,000 gold ounces. Oxide exploration continues targeting higher grades and conversion at Mackay, Red Dot, New Millennium, Crossfire and Valmy with a total of 109 reverse circulation holes drilled in 2020 at Marigold for a total of 37,956 meters.


  • Marigold mine poured its four millionth ounce in 2020
  • Peak production expected in 2021 and 2022 of over 265,000 ounces

2020 2019 2018
Revenue to Franco-Nevada ($ million) $ 7.1 $ 8.7 $ 10.2

Marigold map