Gold company making camp construction preparations while renewing partnership with area First Nations
Kinross Gold is wasting little time in advancing its Great Bear project, outside Red Lake, toward production. In posting its second quarter earnings and production results, the Toronto gold miner is ramping up its exploration efforts in the northwestern Ontario mining camp.
The company is making plans to go underground by carving out a decline at Great Bear to grab a bulk sample for metallurgical analysis while also probing deeper around its high-grade deposit, known as the LP Fault Zone. to look for gold extensions.
A bulk sample involves going underground to extract a large tonnage of mineralized rock to confirm the quality and grade of a deposit. Doing this kind of advanced exploration work will require filing for a provincial permit.
Kinross is one of the world’s largest mining companies with operations and exploration projects in Canada, the U.S., Brazil, Mauritania and Chile. The company reported net earnings of $151 million in its second quarter. The Great Bear Project is 25 kilometres southeast of the town of Red Lake in an area that’s been extensively explored over the years but never mined.