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The company that owns the 60,000-acre Dixie Gold project south of Red Lake, Kinross Gold, says they expect the mine to be a ‘world-class asset’ once operations get underway.
In a release, Kinross Gold leadership explain metallurgy testing took place in 2022 which indicates a high gold recovery of 95 per cent, and testing will continue in 2023 to confirm the data.
The Kinross Gold Corporation paid $1.8 billion to acquire Great Bear Resources and its Dixie Gold project just south of Red Lake in 2021. It’s known as one of the largest new gold discoveries across the country, and as of last year, roughly 80 per cent of the area is unexplored.
As well as further testing, Kinross plans to continue to drill and explore the area in 2023 to identify new targets in collaboration with Lac Seul and Wabauskang First Nations, with an economic assessment expected by 2024.
In the coming years, Kinross says they plan to develop a top-tier open-pit mine complex with the potential for a longer-term underground operation. Their release notes drilling of the rock in the area indicates an excellent potential for an underground mine.
The Canadian-based company has many international projects, including mines in the United States, Brazil, Chile, Ghana, Mauritania and Russia.