Canadian Mining Journal

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GOLD: Detour Lake sitting on 15.5M oz of reserves

ONTARIO – Detour Gold Corp. has updated its plans for the Detour Lake gold mine 185 km northeast of Cochrane, counting 15.5 million oz contained in current mineral reserves (476 million tonnes grading 1.02 g/t Au).



ONTARIO – Detour Gold Corp. has updated its plans for the Detour Lake gold mine 185 km northeast of Cochrane, counting 15.5 million oz contained in current mineral reserves (476 million tonnes grading 1.02 g/t Au).

That level of reserves will support a further 21.7 years of mining the open pit, even though mill throughput is increasing to 61,000 t/d in 2017 from the current rate of 55,000 t/d. Block A measured and indicated in-pit resources total 54 million tonnes at 1.15 g/t Au, or another 2 million oz.

Here are some other numbers to contemplate: Annual gold production for the life of the mine will average 660,000 oz at total cash costs of $723 per oz sold. Until the mill expands, annual production is expected to be 600,000 oz at total cash costs of $759. Detour Gold anticipates spending $1.4 billion on sustaining capital plus $614 million for deferred stripping. The project has an undiscounted pre-tax net cash flow of $6.5 billion and after-tax net cash flow of $5.1 billion.

Company COO Pierre Beaudoin said he is “very pleased” with the mine plan for Detour Lake. He added that further improvements are expected.

More information about the updated plans for Detour Lake are available at DetourGold.com.