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The NI43-101-compliant, pit-constrained MRE at the flagship project is within 125.4 million tonnes at an average grade of 0.92 grams per tonne AuEq in the inferred category.
The update follows the December 23 acquisition of the project, which hosted a historical resource of 1.7Moz of gold (indicated) and 1.9Moz (inferred).
Element79 said the Maverick Springs project was proximate to the Carlin Trend, which has produced more gold than any other mining district in the US.
On February 1, the Vancouver-based company's share price traded on the Canadian Securities Exchange at C$1.12, which was up from C$1.04 on the day prior. The February 1 price was the share's highest value since December 22, when it also traded at C$1.12.
The company had a 52-week high/low of C$1.65/C$0.67.
