Artemis Gold (TSXV: ARTG) issued a purchase order to Finning (Canada), a division of Finning International (TSX: FTT) for the primary and ancillary mining fleet required for the initial phase 1 of operations at the company's Blackwater mine project.
The primary order consists of Cat 6040 hydraulic excavators, a Cat 6060 hydraulic excavator and a fleet of Cat 793NG 250-tonne haul trucks. This fleet will provide the load and haul capacity for the initial years of operations and will be expanded as needed. The ancillary fleet consists of Cat 992 front end loaders, Cat 785 haul trucks, Cat D10 dozers, Cat D9 dozers and 18M graders. Total value of the equipment is in the order of $134 million.
The equipment is expected to start arriving in late 2024.
Blackwater is an open pit mine, carbon-in-leach mill, located in B.C. and 100% owned by Atremis. It has a base case after-tax net present value at a 5% discount of $2.1 billion and initial development capital cost of $645 million. The total measured and indicated mineral resource is estimated at 597 million tonnes at 0.65 g/t gold-equivalent, 0.61 g/t gold, and 6.4 g/t silver for a total of 12.4 million gold-equivalent oz. The life of mine is an expected 23 years.
During phase 1, throughput in the first four years is expected to be 6.0 million t/y and bump up to 9.0 million t/y in year five. Average annual gold production is expected to be 321,000 oz. at an all-in sustaining cash cost of U.S. $578/oz.
To learn more, visit www.ArtemisGoldInc.com.
April 25, 2024
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