Toronto miner planning for both open-pit and underground mines in northwestern gold camp
Expect to see more drill rigs heading up the Red Lake highway this winter, and well into 2022.
In a webcall with mining analysts last week, executives with Kinross Gold viewed its pending acquisition of Great Bear Resources and its Dixie Project near Red Lake as a multi-deposit mine complex with plenty of operating life and the legs to grow in scale based on its mineral potential.
Toronto-based Kinross announced the cash-and-share transaction of $1.8 billion last week of one of the most talked-about exploration projects in northwestern Ontario. The deal is expected to close in the first quarter of 2022.
Kinross has decided to take the long view with Dixie as the new owners dug into some of the details of their approach to explore and develop the project into the type of operation the company believes can be a “top tier” asset for years and, maybe, decades to come.