Artemis Gold Inc., owner of the Blackwater Mine, announced Wednesday, Jan. 29 that it has completed its first gold and silver pour at the mine site.
Also known as Blackwater Gold, the mine 160 kilometres southwest of Prince George remains on target to ramp up to commercial production starting in the second quarter of 2025.
“While still in commissioning, Blackwater’s crushing circuit has displayed sustained crushing operations above its prescribed nameplate throughout,” said Jeremy Langford, Artemis Gold president and chief operating officer, in a media release.
“The milling circuit is also performing in line with expectations at this stage of the commissioning and ramp-up phase.”
The open-pit mine is the largest gold mine development in the Cariboo region in more than a decade and it is powered by a new 133-kilometre BC Hydro transmission line now feeding one of the mining sector’s first fully-electric ore processing plants.
The mine’s 44 square-kilometre footprint covers an estimated eight million ounces of gold reserves and 60 million ounces of silver reserves. A feasibility study predicts the mine will produce 321,000 troy ounces of gold annually over the first five years, increasing to 381,000 ounces of gold extraction in years 6-10.
Construction of the Blackwater mine began soon after the province approved a construction/operation permit on March 9, 2023.
With an expected 22-year lifespan, the company hopes to mine 11.7 million ounces of gold and 122.4 million ounces of silver, and it could be producing for 30 or 40 years.
The mine is expected to generate 457 direct full-time jobs per year over its operating life, having already provided 825 direct full-time jobs during the construction phases. It will pump an estimated $13.2 billion into the provincial economy and $3.2 billion into provincial revenues over the multi-decade life of the mine.
Gold is currently worth $3,984 CDN per ounce.
