# Borealis Files NI 43-101 Technical Report for the Sandman Gold Project

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/borealis-files-ni-43-101-technical-report-for-the-sandman-gold-project--b470128a-d040-40cb-8245-56c2f81ccc2e

Original source: https://money.tmx.com/en/quote/BOGO/news/8712870715178273/borealis-files-ni-43-101-technical-report-for-the-sandman-gold-project

Publisher: tmx

Original announcement: 2026-04-02T21:58:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Borealis Mining Company Limited

- Ticker: BOGO

- Exchange: TSX

- Region: Nevada

- Primary commodity: Gold

- Secondary commodities: None reported

- Document categories: Resource update

- Extracted: 2026-08-23 02:40:51 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

Borealis Mining Company Limited has filed a NI 43-101 Technical Report supporting its Preliminary Economic Assessment \(PEA\) for the Sandman Gold Project in Nevada. The PEA indicates a post-tax NPV of US$203 million and an IRR of 105% based on a gold price of US$2,600/oz, utilizing a conventional open-pit heap-leach mining method.

Reasoning: The filing of the NI 43-101 Technical Report formalizes the previously announced PEA, confirming strong economic indicators \(NPV, IRR\) for the Sandman Gold Project, though it relies on older resource data.

- Positive factor: Strong NPV of US$203M

- Positive factor: High IRR of 105%

- Positive factor: Short payback period of 1.1 years

- Positive factor: Strategic advantage using existing ADR facility

- Negative factor: PEA is preliminary and includes inferred resources

- Negative factor: Economic analysis based on 2021 Mineral Resource Estimate

Facts used in scoring: 1

## Classification and evidence

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: The technical report supports the previously announced Preliminary Economic Assessment \(PEA\).

Evidence · text

> supporting the previously announced Preliminary Economic Assessment \(" PEA "\)

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: The PEA includes inferred mineral resources which are considered too speculative for economic considerations.

Evidence · text

> includes inferred mineral resources that are considered too speculative geologically

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: Jerod Eastman, an independent Qualified Person, is named as responsible for the report.

Evidence · text

> information prepared by Jerod Eastman, President of DJ 6E Consulting LLC, an independent Qualified Person

## Extracted facts

Stored fact records: 1. Some facts used in scoring do not have a stored record.

## Resource Estimates (1)

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/borealis-files-ni-43-101-technical-report-for-the-sandman-gold-project--b470128a-d040-40cb-8245-56c2f81ccc2e#fact-resource-facts-0)

gold

#### Identity

- Commodity: gold
- Ticker: BOGO

#### Resource Data

- Category: inferred
- Contained Metal: 340000
- Contained Unit: ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-02T00:00:00.000Z

Reasoning: The PEA reports 340,000 ounces of gold production, but notes these include inferred resources which are geologically speculative.

- Positive factor: Significant life-of-mine production

- Negative factor: Inferred category is speculative

Evidence · text

> Life-of-mine gold production: approximately 340,000 ounces over ~9 years

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.