https://www.northernontariobusiness.com/
Gold company to carve out exploration decline to drill for high-grade gold at depth
Kinross Gold is laying the groundwork for an underground mine with its Great Bear project at Red Lake. Construction of an exploration decline is in the works for next year to move the drill rigs underground and chase high-grade gold at depth, according to its 2024 second quarter results released July 31.
Down the road, Kinross wants to start production at Great Bear in 2029. Prep work for the decline begins in the second half of this year once all the permitting, engineering and procurement is done. Breaking ground on the advanced exploration decline — known as the AEX program — starts in mid-2025.
Underground drilling to expand the gold resources in its Main Zone deposit and make more discoveries is expected to continue well past 2027.
Located 23 kilometres southeast of Red Lake, mineralization at Great Bear has been showing up across the entire 9,140-hectare property. Kinross said the consistent high-grade results they’ve been seeing supports their view that Great Bear can be a long-life mine complex.
For the rest of this article: https://www.northernontariobusiness.com/industry-news/mining/kinross-prepared-to-take-the-red-lake-plunge-9306312