Australian mine operator says new resource estimate and gold prospects should add decades of mine life
The Red Lake Mine complex has plenty more gold to be discovered, said its new Australian owners.
“We have not scratched the surface of Red Lake’s full potential,” said Evolution Mining’s chief operating officer Bob Fulker in a Sept. 1 webcast to Evolution’s investors, about recent discoveries that offer opportunity to dramatically increases production while maintaining a longer mine life.
Senior executives of the Sydney-headquartered mining company talked of the open-ended potential of the three-mine operation and the numerous exploration opportunities to grow the gold base inside their 457-square-kilometre property.
Fulker said Evolution’s aspirational goal of ratcheting up annual production to 200,000 ounces of gold may be just the starting point.
There’s enough gold in the system, he said, to make a strong case to further boost production to 300,000 to 500,000 ounces annually over the next five years.