Island Gold expansion will allow for an increase in production
The hoist is complete, the headframe is near completion, and the sinking of a new shaft at the Island Gold Mine, outside Dubreuilville, begins at year’s end. In delivering its third-quarter results, Alamos Gold updated progress on the third phase of expansion of the high-grade underground operation ,which will double production once construction is finished in 2026.
The infrastructure being installed also includes a paste plant and a processing mill expansion to support boosting the mining rate from 1,200 tonnes per day to 2,400. Instead of trucking ore and waste rock to surface, that material will be skipped through the new shaft infrastructure.
Capital spending for this expansion during 2023 is expected to be between $165 million and $185 million. That level will remain largely the same in 2024 and 2025.
On the production front, Island Gold produced 36,400 ounces during the quarter, up 19 per cent from the previous quarter, with 99,800 ounces produced so far this year. Island Gold is on track to achieve its year-end production target. Gold grades averaged 9.94 grams per tonne during the quarter.
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