Detour Lake - Ontario
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2% NSR 10,763,000 oz M&I / 2,452,000 oz Inf. (Au) (Aug 2008) Detour Gold Corporation |
The Detour Lake Gold Camp covers approximately 33,000 acres of prospective ground in northeastern Ontario and a portion of Quebec. The properties include a combination of mineral and surface leases and unpatented claims, and include the former Detour Lake mine which was operated by Placer Dome Inc. and produced 1.8 million ounces of gold from 1983 to 1999.
On August 19, 2008 Detour filed a technical report with an updated pit optimized resource estimate of 10,763,000 oz Measured and Indicated resources and 2,452,000 oz Inferred resources. According to Detour Gold, the resource base has increased by 288% from the time the Company acquired the property.
The mineral resource estimate is based on the concept of a large-scale open pit with a proposed operating rate of approximately 30,000 tonnes per day for the first two years of operation, increasing to 60,000 tonnes per day thereafter. All mineral resources are contained within optimized pit shell based on a $700/oz gold price. Current projection of the strip ratio is 6.3:1, based on the cut-off grade of 0.5 g/t gold.
A feasibility study is underway with completion expected by Detour Gold by the end of 2008.