Artemis Gold says the Blackwater Mine, south of Vanderhoof and about 160 kilometres west of Quesnel, is planning its first gold pour in the fourth quarter of this year.
The company says as of September 30th, overall construction of the mine, was over 95 per cent complete.
Construction of the Tailings Storage Facility will be finished by the end of this month, in advance of commencement of ore commissioning of the plant.
The transmission line between the mine and BC Hydro’s Glenannan substation is complete, and was energized on Tuesday. (Oct. 8)
The company noted that two separate wildfire events have halted construction at the site over the past 17 months.
In total, it says construction was halted for roughly a month and a half.
“I am proud of the fact the project team has managed to limit the impact of the wildfires, two major events beyond management’s control, to only a 7% increase in initial capital guidance,” said Artemis Gold Chairman and CEO Steven Dean.
“This is a testament to the team’s financial discipline and deep project development experience. The additional stand-by funding provided by one of the Company’s existing relationship lenders provides us with the financial flexibility to absorb the financial impact of these events.”
The mine is on the traditional lands of the Lhoosk’uz Dene First Nation, formerly known as Kluskus, and the Ulkatcho (Anahim Lake) First Nation.
An economic impact study completed back in November of 2020 anticipated that the project would create 457 direct full-time jobs over the 23-year operating life of the mine.
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