Overview
- The Upper Beaver gold-copper project is part of the Company’s exploration portfolio in the Kirkland Lake camp of northeastern Ontario, which includes the Upper Canada and Anoki-McBean deposits.
- A technical evaluation was completed at Upper Beaver during the fourth quarter of 2024 that increased mineral reserves to 2.8 million oz. of gold and 54,930 tonnes of copper (23.2 million tonnes grading 3.71 g/t gold and 0.24% copper) as at December 31, 2024.
- This technical evaluation incorporated all the new drilling completed since 2017, totalling 226,418 metres in 441 holes, and employed improved mining concepts and the latest progress in geotechnical and metallurgical test work.
- This project has the potential to produce an annual average of approximately 210,000 oz. gold and 3,600 tonnes of copper over a 13-year mine life.
- In July 2024, the Company approved a $200 million investment over approximately three years to further attempt to de-risk the project, with work that will include developing an exploration ramp and an exploration shaft to depths of 160 metres and 760 metres, respectively, to establish underground drilling platforms and to collect bulk samples.
For more information on our exploration projects and activities, see the Company’s recent news.