Detour Gold Corporation now has Canada's largest undeveloped gold resource, according to results of a feasibility study for its proposed Detour Lake open pit mine 180 kilometres northeast of Timmins.
Ranking sixth among North America's top 10 largest gold reserves, Detour Lake contains proven and provable open pit reserves of 11.4 million ounces. This translates to a 16-year mine life, with average annual gold production of 649,000 ounces.
Estimated start-up capital costs for the mine would reach $992 million, while the mining fleet will reach up to 36 300-tonne haul trucks, two electric cable shovels, three electric-hydraulic shovels, as well as six drills and various ancillary equipment to support the mining operation.
The base case for the study uses a price of $850 per ounce of gold, while total operating costs are expected to reach an average of $454 per ounce.
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