Overview
Hammond Reef is a 100%-owned gold exploration project in Northwestern Ontario. Open pit measured and indicated mineral resources at the project are estimated at 208 million tonnes grading 0.67 g/t gold (containing 4.5 million ounces of gold), as well as open pit inferred mineral resources of 0.5 million tonnes grading 0.74 g/t gold (containing 12,000 ounces of gold), using a cut-off gold grade of 0.32 g/t, as of December 31, 2019.
The 32,070-hectare property is in the Thunder Bay Mining District, within Treaty 3 lands, the traditional territory of the Anishinaabe people. It is also located within an area recognized by the Métis Nation of Ontario as Region 1 traditional harvesting territory. Agreements with First Nations, the Métis Nation of Ontario and trap-line, bait fishing, and tourism agreements are in place and will be honoured. Ongoing community engagement with the town of Atikokan and Aboriginal groups is a priority to maintain positive relationships in the area.
An Amended Environmental Assessment was submitted in January 2018 and the project subsequently received environmental approval from both Federal and Provincial agencies. In January 2020, the Company exercised its right of first refusal to repurchase a 2% net smelter return royalty on the Hammond Reef project from Kinross Gold Corporation for $12 million. For the rest of 2020 at Hammond Reef, the Company will be evaluating optimization opportunities to improve project economics.
Please use the below links to download and view all documents associated with the Environmental Impact Study (EIS).