Detour Gold has updated its life-of-mine plan, which increases the output at Detour Lake gold mine, while extending its life by three years.
According to the new plan, proven and probable open-pit reserves have increased to 16.4 million ounces contained gold.
The company anticipates average annual gold production of roughly 655,000 ounces over the mine’s life, and an average annual gold production of approximately 617,000 ounces in next three years.
The mine life is now estimated at 23 years, with mill throughput increasing from 56,000 to 63,000 tonnes per day in 2019.
“We are very pleased to report this new life of mine plan,” Detour’s COO, Pierre Beaudoin, said in a release.
For the first time, the technical report was prepared by Detour Gold’s technical team, the company noted.
“We were successful in delivering a gold production profile above 650,000 ounces per year and a mine plan that significantly reduces the front-end strip ratio,” Beaudoin said.
“This was possible by integrating West Detour, formerly known as Block A. We now have an increased reserve and mine life and a significantly de-risked operation which yields a higher net present value.”
Detour Lake open-pit gold mine is located 185 kilometres north of the Town of Cochrane in the Timmins mining camp. It employs roughly 700 people.
