Osisko receives final permits to expand its gold mine in British Columbia
(Kitco News) - Osisko Development today announcedthe approval of amendments to Mines Act Permits M-238 and M-198 allowing forthe expansion of the existing Bonanza Ledge II underground mine, located inBritish Columbia, with an increase in production from 150,000 t/yr to 215,000t/yr.
These amendments support theongoing employment of 127 workers at the mine. The ore will be trucked fromBonanza Ledge II to the Quesnel River Mill for processing and tailings storage.
"The anticipated mine life ofBonanza Ledge II is approximately 18 months. The expansion of the Bonanza LedgeII project allows for continuity of mining while the Cariboo Gold projectEnvironmental Assessment proceeds. If approved, the Cariboo Gold project willextend mining by an additional 16 years and employ 459 people," the company saidin a statement.
The Bonanza Ledge II depositis located within the broader Cariboo Gold mining camp which is 100% owned byBarkerville Gold Mines, a wholly owned subsidiary of Osisko Development.
The Cariboo gold project,located in central British Columbia, is Osisko Development's flagship assetwith measured and indicated resources of 21.44 Mt at 4.6 Au g/t for a total of3.2 million ounces of gold and inferred resource of 21.69 Mt at 3.9 Au g/t fora total of 2.7 million ounces of gold.
The Cariboo gold project isadvancing through permitting as a 4,750 tonnes per day underground operationwith a feasibility study on track for completion in the first half of 2022.
By Vladimir BasovFor Kitco News
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