Exhibit 99.23

Preliminary Economic

Assessment NI 43-101 Technical

Report

Moss Gold Project
Thunder Bay, Ontario, Canada

Prepared for:

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

IMPORTANT NOTE

General Conditions and Limitations

Use of the report and its contents

This report has been prepared for the exclusive use of the Client or its agents. The factual information, descriptions, interpretations, comments, recommendations and electronic files contained herein are specific to the projects described in this report and do not apply to any other project or site. Under no circumstances may this information be used for any other purposes than those specified in the scope of work unless explicitly stipulated in the text of this report of formally interpreted when taken individually or out-of-context. As well, the final version of this report and its content supersedes any other text, opinion or preliminary version produced by G Mining Services Inc.

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

Preliminary Economic Assessment NI 43-101 Technical Report – Moss Gold Project

Thunder Bay, Ontario, Canada

GOLD X2 MINING INC.

450 Commerce Place

400 Burrard Street Vancouver, BC. V6C 3A6

Tel: 1-604-404-4335

E-mail: mhenrichsen@goldx2.com

Web Address: https://goldx2.com/

G MINING SERVICES INC.

5025 Lapinière Blvd.

Office 1010, Brossard, Québec

Canada J4Z 0N5

Tel: (450) 465-1950 • Fax: (450) 465-6344

E-mail: m.gignac@gmining.com

Web Address: www.gmining.com

March 12, 2026

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

Qualified Persons

Prepared by:

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

Prepared by:

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

Table of Contents

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

List of Figures

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

List of Tables

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

List of Appendices

APPENDIX A – DISCIPLINE

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

SUMMARY

Gold X2 Mining Inc. (“Gold X2” or the “Company”) mandated G Mining Services Inc. (“GMS”) as lead consultant along with CSL Environmental & Geotechnical Ltd. (“CSL”) to prepare a Preliminary Economic Assessment (“PEA”) under the supervision of the Qualified Persons (“QPs” or “QP”) for the Moss Gold Project (“Moss” or “Project”), located in Ontario, Canada about 100 km west of the city of Thunder Bay.

Gold X2 is a junior gold exploration company based in British Columbia, Canada. The Company’s common shares trade on the Toronto Stock Exchange (TSXV:AUXX), OTCQB Market (OTCQB:GSHRF) and Frankfurt Stock Exchange (FWB:DF8). The Company holds full ownership of the Moss and East Coldstream gold deposits. The mining claims and patents are registered under Goldshore Mining Inc., a subsidiary of Gold X2. In December 2025, Gold X2 acquired 100% of the Huronian Gold Project claims by completing the acquisition of all of the issued and outstanding common shares of Kesselrun Resources Ltd.

This Technical Report (“Report”) is prepared in accordance with the guidelines of the Canadian Securities Administrators’ National Instrument 43-101 (“NI 43-101”) and Form 43-101F1. The objective of this Report and the PEA is the evaluation of the potential technical and economic viability of the Project, notably the development of an open pit, processing facilities and related infrastructures. This Report provides operating and capital costs estimations and an economic analysis of the Project.

This Report declares a new Mineral Resource Estimate (“MRE”) effective as of January 16, 2026.

The Moss Gold Project does not contain Mineral Reserves. The PEA is preliminary in nature and includes Inferred Mineral Resources. Inferred Mineral Resources are considered too geologically speculative to have economic considerations applied that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be realized.

The Qualified Persons for this Technical Report are the following:

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

The units of measure presented in this Technical Report, unless noted otherwise, are in the metric system. Currency is in Canadian dollars (“CAD”, “C$” or “$”), unless otherwise stated, and references to “US$” or “USD” are to US dollars. References, located at the end of this Technical Report, provide a complete list of the documents reviewed, all figures and tables cited, and other information sources used.

This Technical Report has been prepared by GMS, under the supervision of the QPs, for Gold X2 Mining. The information, conclusions, opinions, and estimates contained herein are based on:

The QPs believe that the underlying assumptions in the information provided are factual and accurate and that the resulting interpretations are reasonable. To the extent applicable, the QPs have relied on such data and have no reason to believe that any material facts have been withheld. In their professional judgement, the QPs have taken appropriate steps to ensure that the information provided upon is sound and, accordingly, do not disclaim responsibility for the content of this Report. The QPs have not performed an independent verification of the land title and tenure information, as summarized in Section 4 of this Technical Report, nor have they verified the legality of any underlying agreement(s) that may exist concerning the permits or other agreement(s) between third parties, as summarized in Section 4 of this Technical Report. For this topic, the QPs of this Report have relied on information provided by Gold X2.

The QPs have relied on Gold X2 and their retained expert on taxes, royalties, permitting, other agreements or interests, as described in Section 3.

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

The Project is located approximately 100 km west of Thunder Bay, Ontario, Canada, and is accessible via Highway 11 (Trans-Canada Highway), which runs along its northern boundary. The town of Atikokan lies 80 km to the west along Highway 11, while Winnipeg, Manitoba, is 500 km further west via the same route.

Situated within the Thunder Bay South Mining Division, the Project spans a total area of 19,708 hectares (197.08 km²). It is controlled through 573 mining claims covering 18,122 ha, two (2) mining leases totalling 216 ha, 48 patents covering 836 ha, and five (5) Mining Licences of Occupation (MLO) totalling 534 ha.

The Project falls within NAD83 UTM Zone 15 North and is centred around UTM coordinates 5,379,100 North and 668,860 West. It overlaps Moss and Ames Townships, as well as the unsurveyed areas surrounding Powell Lake, Nelson Lake, Burchell Lake, and Crayfish Lake.

Most of the Project is situated within the lands covered by Crown Treaty 3 and the Robinson-Superior Treaty, in the traditional territories of the Lac des Mille Lacs First Nation, Lac La Croix First Nation, Fort William First Nation, the Métis Nation of Ontario, and the Red Sky Métis Independent Nation.

Access to the Project site from Highway 11 is provided by Highway 802 and a network of gravel logging roads extending southward. Gold X2 maintains an operational base in Kashabowie, which includes a core logging and sampling facility, offices, and on-site accommodations for the exploration team.

The physiography of the property is characterized by northeast-running ridges separating a series of shallow lakes, muskeg swamp, and streams. Elevation is typically 430 to 450 m above mean sea level. The climate is humid continental with typical summer highs and winter lows of +30°C and -30°C, respectively.

The city of Thunder Bay, the rural communities of Kashabowie and Shebandowan, and the town of Atikokan are proximal to the Property and provide full services for exploration and mining, including a labour force experienced in mining. Thunder Bay has a full-service regional airport and a deep-water port on Lake Superior.

A power line traverses the Project east-west, passing through the Project’s northern edge.

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

The Moss Gold Property has a long history of exploration that started in the 1930s. The Property was divided into smaller properties, which were explored by multiple companies over the past decades; they were consolidated by Wesdome from 2014 through 2016. Gold X2 acquired the Moss Gold claims from Wesdome in May 2021. Acquisition of Kesselrun Resources Ltd. In December 2025 added the Huronian claim block to the package.

Historical exploration work conducted on the Property includes geophysical surveys, geochemical programs, geological mapping, outcrop stripping, trenching, sampling, and diamond drilling programs.

There are three (3) historical Mineral Resource Estimates for the Moss Gold Deposit and one for the East Coldstream Deposit that are supported by Technical Reports prepared in accordance with NI 43-101 and follow CIM Guidelines (2016). The current MRE disclosed in this Report supersedes all historical estimates for the Project.

The Project is located within the Archean Wawa Subprovince of the Superior Province, in the western part of the Shebandowan Greenstone Belt (“SGB”). The SGB is composed of three (3) principal supracrustal assemblages—Greenwater-Burchell, Kashabowie, and Shebandowan—interpreted to record an island arc setting that was subsequently accreted onto the Wabigoon Subprovince. Regional rock units have been metamorphosed mainly to greenschist facies, with metamorphic grade locally increasing to amphibolite facies in areas adjacent to large intrusive bodies. The northwestern sector of the Project extends into the Archean Quetico Subprovince, which is characterized predominantly by greywacke sequences intruded by minor mafic to intermediate bodies and metamorphosed to greenschist facies. The boundary between the Wawa and Quetico subprovinces is delineated by the Postans Fault, a major regional structure expressed as a prominent topographic depression.

The Moss Block is largely underlain by the Central Felsic Belt (“CFB”), a component of the Kashabowie Assemblage. The CFB consists mainly of andesitic, dacitic, and rhyolitic volcanic flows, accompanied by tuffs, lapilli tuffs, fragmental volcanic rocks, and subordinate chemical sedimentary units, including iron formations. This felsic volcanic package is bordered to the northwest and southeast by the Northern and Southern Mafic Belts (NMB and SMB), respectively, both of which are partially encompassed within the Moss Block.

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

The Coldstream Block is underlain primarily by metasedimentary greywackes of the Quetico Subprovince, which are in faulted contact with the NMB. The NMB comprises narrow iron formation horizons and coarse clastic interflow sedimentary rocks and is offset by the Till Valley Fault. Farther east, the NMB exhibits a complex, and possibly unconformable, relationship with CFB lithologies comparable to those observed within the Moss Block.

The Moss Gold Deposit is primarily hosted within anastomosing shears intersecting with diorite bodies. Mineralization is strongly correlated with dozens of parallel, anastomosing shear zones and occurs in small-scale veinlets, breccias, stockworks and shears. Alteration is extensive throughout the deposit. Zones of more intense shearing and veining with associated intense alteration, particularly near or within discreet shear zones, are generally associated with higher gold grades. Mineralization is believed to have developed during and after intense ductile deformation, with two (2) tectonic-hydrothermal events identified. The deposition of sulfides, mainly pyrite, occurred in shears and veinlets within and outside shear zones, exhibiting different fabric orientations. In addition to pyrite, chalcopyrite and rare tellurides are present, with the latter showing a spatial correlation with high-grade gold.

The East Coldstream Deposit is structurally controlled with higher-grade gold mineralization occurring in northeast-tending shear zones and lower-grade gold mineralization associated with more brittle-style veining in the felsic to intermediate metavolcanic rocks, gabbros, and porphyries between the primary shear zones. Mineralization occurs in sheared mafic to intermediate volcanic units near quartz and quartz-feldspar porphyry sills and distinctive brick-red syenites, potentially indicating a braided shear network on a scale of approximately 10 m. Pyrite disseminations, accompanied by lesser amounts of chalcopyrite, can be observed throughout silica hematite-altered shear zones.

The mineralization styles of the deposits present on the Project fall into three main categories: Greenstone / Orogenic deposits, Iron Oxide Copper-Gold (“IOCG”) deposits, and Volcanic-Associated Massive Sulfide (“VMS”) deposits.

The Moss Gold Deposit, East Coldstream Deposit, and the historic Huronian Mine are examples of Greenstone-hosted Gold deposits / Orogenic Gold deposits. Hamlin Lake mineralization shows similarities to IOCG deposits. The North Coldstream deposit and Vanguard prospects are interpreted by some to be VMS deposits

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Exploration at the Moss Gold Project has included geological mapping, prospecting, trenching, geophysical surveys, and extensive diamond drilling completed by multiple operators over several decades. Since 2021, modern exploration programs have focused on validating historical datasets, refining geological and structural interpretations, and expanding mineralized zones along the principal shear corridors.

Since initiating its involvement in 2021, Gold X2 has undertaken a range of exploration activities, including airborne and ground geophysical surveys, soil and vegetation sampling, detailed geological mapping and rock sampling, trenching, and diamond drilling programs. In addition, historical drill core has been relogged and resampled to support updated interpretations.

Collectively, this work has enhanced the geological understanding of the Moss Gold Project, strengthened the three-dimensional geological and structural models, and provided critical data supporting the current Mineral Resource Estimate.

The historical drillhole database for the Project consists of 2,213 drillholes (297,369 m of drilling) dating back to 1942 for the Coldstream, Moss, Hamlin and Vanguard blocks. Detailed compilation and validation of historical drilling in the Huronian block is still ongoing.

Between August 1, 2021, and August 12, 2025, Gold X2 completed a total of 424 drillholes (115,564 m) on the Project on the Moss and Coldstream claim blocks. No drilling has yet been conducted on the Hamlin, Vanguard, or Huronian blocks.

The current sample preparation, analysis, and security procedures implemented by Gold X2 follow best industry standards, and robust controls are in place to ensure the integrity of the assay database. The quality control data results from sampling programs did not expose any significant analytical issues.

As part of the independent verification process, Mr. Dominic Lussier, P.Geo., Chief geologist of G Mining Services Inc. and Independent Qualified Person (QP) for the Moss Gold Mineral Resource Estimate (MRE) and East Coldstream MRE, conducted a site visit on October 28, 2025. During the site visit, drilling

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

methodology, sampling and quality control procedures, core logging, and data verification were reviewed. Independent QP sampling was carried out. 

Geological and assay data obtained from historical drilling campaigns, performed before Gold X2’s involvement on the Property, were validated with original documentation and certificates where available and via risk assessment, statistical review, and resampling data where original documentation was not available.

Select historical holes in the Moss Gold database were excluded from the modelling and MRE due to inadequate validation of key data. Mitigation measures were put in place for historic detection limits with overestimation risks.

Gold X2’s assay data from the 2021 to 2025 drilling campaigns were reviewed with the laboratory certificates and included in the MRE’s for the Moss Gold and East Coldstream deposits.

The data verification demonstrates that no material errors are present in the databases. The QP is confident that the Moss Gold and East Coldstream databases are reliable and suitable for inclusion in the MREs.

Continuing from previous testwork, a PEA-level metallurgical testwork program was completed between June and September 2025 at BaseMet Labs in Kamloops, BC, Canada. The objectives of the testwork program were to further define the metallurgical response of the main ore domains, generate sufficient metallurgical data to update the flowsheet and develop gold recoveries for the PEA study. The scope of the testwork included head assays, bond ball mill work index testing, gravity recovery testing, flotation and leaching flowsheet testing, whole material cyanidation, and variability composite testing.

Samples were selected from three (3) areas to produce composites: Main, Southwest, and QES, with each zone represented by three (3) variability composites of low, medium, and high gold grade. The composite samples are considered representative of the principal mineralized domains included in the PEA mine plan. Gold content in the samples varied from 0.7 to 1.7 g/t Au for the composites and 0.3 to 21 g/t Au for the variability samples, with silver present at similar levels to gold. Sulfur ranged from approximately 0.6% to 1.7%, with the majority occurring as sulfide sulfur. Carbon assayed between 0.4% and 1.2% in the composites. Only 0.02% to 0.03% measured as the potentially problematic organic carbon. At these levels preg robbing would not generally be anticipated.

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Bond Ball Mill Work Index tests were completed on each of the variability composites, and values ranged from approximately 17.4 to 20.5 kWh/t, indicating relatively hard material.

Gravity recoverable gold tests were performed on three (3) main composites through Extended Gravity Recoverable Gold Tests (EGRG). Gravity recovery ranged from 24% to 33% of the gold at a mass pull of approximately 1.6–1.8%. These results indicate a moderate gravity recovery component that could potentially be incorporated into the process flowsheet but would require additional testwork.

Bulk sulfide rougher flotation followed by leaching of the concentrate and tailings was performed on all three (3) main composites at primary grind size K80 of 35, 55 and 75 µm. Flotation gold recovery to concentrate ranged from 77 to 91%, and mass recoveries ranged from about 6 to 11% and did not consistently trend with primary grind size or flotation recovery of gold or sulfur.

Cyanidation leach tests were conducted on rougher concentrates and tails at grind sizes of 15, 35, 55 and 75 µm. The best overall extractions of gold of 90, 94 and 93% for the main, SW, and QES area composites, respectively, were obtained under conditions with a primary grind size of 55 µm and flotation concentrate regrind to 15 µm.

Diagnostic leach tests were conducted on cyanidation residues from flotation rougher concentrate leach tests performed at a primary grind of 55 µm K80, with and without regrinding of the concentrate to approximately 15 µm K80. Results indicated that 2–7% of flotation feed gold remained in the leach residues, with lower residual gold observed when concentrate regrinding was applied. The majority of unrecovered gold was associated with sulfide-hosted locked gold, representing approximately 4–6% of flotation feed gold without regrinding and 1–3% with regrinding, indicating that improved liberation through fine regrinding enhances cyanidation recovery. Diagnostic testing also indicated minimal preg-robbing behaviour in the flotation concentrates.

Whole-ore cyanidation tests conducted at primary grind sizes between 15 and 100 µm K80 produced gold extractions of approximately 77–94%, with improved recoveries observed at finer grind sizes. Overall, recoveries were generally comparable to, but slightly lower than, those achieved through the flotation-cyanidation flowsheet.

Diagnostic testing of nine (9) variability composites representing low, medium, and high-grade material from the Main, SW, and QES zones was completed using whole-ore cyanidation at a primary grind size of 75 µm K80. Gold extractions ranged from approximately 81% to 92% across the variability composites, comparable to or slightly higher than the extractions measured for the corresponding area composites under the same conditions. No consistent relationship was observed between feed gold grade and

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

extraction performance, as high-grade composites did not consistently produce higher recoveries than medium or low-grade material. The variability results indicate relatively consistent metallurgical performance across grade ranges and ore domains.

Results support a flowsheet consisting of comminution with a primary grind size of 55 µm, followed by bulk sulfide flotation with cyanidation of flotation concentrate (reground to 15 µm) and tailings. Overall gold recoveries of approximately 90–94% were achieved under optimal test conditions.

The current Mineral Resource Estimate for the Moss Gold Project, located in Ontario, Canada, and wholly owned by Gold X2 Mining Inc., represents an update to the previous mineral resource estimate completed in 2024. This updated MRE incorporates new geological, structural, and analytical information derived from an expanded drillhole database, including drilling completed during the 2024 and 2025 exploration programs up to the selected cut-off date of August 12, 2025.

The updated MRE includes both the Moss Gold deposit and the nearby East Coldstream deposit. The estimate reflects improved geological interpretation, refined mineralized domain modelling, updated density assignments, revised grade capping strategies, and updated grade estimation parameters. Drill results from the 2024 and 2025 campaigns have enhanced geological continuity and supported the conversion of portions of the Mineral Resources from the Inferred category to the Indicated category.

The updated MRE was prepared by Dominic Lussier, P.Geo., Chief Geologist at G Mining Services Inc. (“GMS”), who is an independent Qualified Person (“QP”) as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). The estimate has been prepared in accordance with the CIM Definition Standards for Mineral Resources and Mineral Reserves (May 19, 2014) and CIM Best Practice Guidelines (2019) and is reported in compliance with NI 43-101 requirements.

The effective date of the Mineral Resource Estimate is January 16, 2026. The Mineral Resource statements for the Moss Gold deposit and the East Coldstream deposit are summarized below.

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Table 1.1: Mineral Resource Estimate of Moss Gold Deposit – Effective January 16th, 2026

*Note(s):

Table 1.2: Mineral Resource Estimate of East Coldstream Gold Deposit –

Effective January 16th, 2026

*Note(s):

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

The database used for the Mineral Resource estimation was reviewed and validated by the QP. Based on this validation, the QP considers the drilling, geological interpretation, and assay data to be sufficiently reliable to support mineralized domain modelling, grade estimation, and classification of Mineral Resources for both the Moss Gold and East Coldstream deposits.

Open pit Mineral Resources for the Moss Gold and East Coldstream deposit are reported as undiluted and in situ, within optimized pit shells generated using a gold price of USD 2,200/oz and a cut-off grade of 0.35 g/t Au. There are no underground Mineral Resources reported for the Project.

At this cut-off grade, the Moss Gold deposit contains an Indicated Mineral Resource of 64.3 million tonnes (Mt) grading 1.03 g/t Au and 1.53 g/t Ag, for 2,126 thousand ounces (koz) of gold and 3,160 koz of silver. The Inferred Mineral Resource at Moss Gold is estimated at 125.9 Mt grading 0.97 g/t Au and 1.55 g/t Ag, for 3,910 koz of gold and 6,273 koz of silver.

The East Coldstream deposit contains an Indicated Mineral Resource of 9.5 Mt grading 1.09 g/t Au, for 333 koz of gold. The Inferred Mineral Resource is estimated at 8.8 Mt grading 1.06 g/t Au, for 299 koz of gold.

These Mineral Resources are not Mineral Reserves as they have not demonstrated economic viability. The quantity and grade of reported Inferred Mineral Resources in this MRE are uncertain in nature, and there has been insufficient exploration to define these resources as indicated or measured; however, it is 

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

reasonably expected that most Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

The QP, Mr. Dominic Lussier, P.Geo., is not aware of any factors or issues that materially affect the Mineral Resource estimate other than normal risks faced by mining projects in the province in terms of environmental, permitting, taxation, socioeconomic, marketing, and political factors, and additional risk factors regarding Inferred Resources.

This Preliminary Economic Assessment (PEA) of the Moss Gold Project is based on Indicated and Inferred Mineral Resources. Because of the inclusion of Inferred Resources, it is not applicable to determine Mineral Reserves at this stage of the Project. Economic zones will be classified as Mineralized Material (“MM”) only.

The Moss Gold Project is planned as a conventional open pit mine. The mine plan considers only the Moss Gold Deposit and excludes the East Coldstream and Huronian Deposits.

The Project already has available power lines, water resources and is reachable via Highway 11. The milling rate is planned at 11 Mtpa with a 10-month ramp-up period. The mill will run for 13.2 years. Mineralized material (MM) will be stockpiled next to the crusher to ensure a steady flow of material to the mill. A PEA is preliminary in nature and is intended to provide only an initial, high-level review of the Project’s potential and design options. The PEA mine plan includes numerous assumptions and the use of Inferred Mineral Resources.

Open pit mining will be carried out using diesel-powered equipment, including drills, haul trucks, and hydraulic shovels. The Project comprises one (1) pit that will be developed in three (3) main phases. The peak mining rate is projected at 75 Mtpa over a 13.2-year mine life. A total of 139.0 Mt of mineralized material will be extracted at an average diluted gold grade of 0.88 g/t Au and 1.37 g/t Ag. The pit is divided into three (3) zones.

The mineralized material (MM) is composed of rock. The overall strip ratio of waste to MM for the Project is 5.3:1. The primary production equipment includes a 15 m³ diesel-hydraulic shovel coupled with 150 t off-highway mining trucks for the mineralized material, and 29 m³ diesel-hydraulic production shovels and 320 t off-highway mining trucks for the waste. Overburden mining is done using 6.3 m³ diesel-hydraulic excavators coupled with 100 t off-highway mining trucks.

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

Figure 1.1 shows the total open pit production per material per period. Figure 1.2 shows the MM gold and silver ounces and grades mined per period.

Figure 1.1: Open Pit Mine Production by Material Type (No Reclamation)

Figure 1.2: Open Pit Mineralized Material Production

Preliminary Economic Assessment NI 43-101 Technical Report Moss Gold Project

 

The proposed process plant design for the Moss Gold Project is based on a flotation and leaching flowsheet to treat gold-bearing material to produce doré. The flowsheet is based on metallurgical testwork, industry standards, and conventional unit operations.

The process plant is designed to nominally treat 11 Mtpa of fresh rock and will consist of comminution, flotation, cyanide leach and adsorption via carbon-in-leach (“CIL”), carbon elution, and gold recovery circuits. CIL tailings will be treated in a cyanide destruction circuit and pumped to a tailings’ storage facility.

The key Project design criteria for the process plant are listed below: