The Blackwater Project is located in central British Columbia, Canada, approximately 160 km southwest of Prince George and 446 km northeast of Vancouver. The project is accessible by major highway and access/service roads.
In September 2021, the results of a Feasibility Study for the Blackwater Project were announced, which envisioned a project with a life-of-mine of 22 years and average annual gold production anticipated to be 339,000 oz at an AISC of US$672/oz.
It is anticipated the Blackwater project will comprise the construction, operation, and closure of an open pit gold and silver mine and ore processing facilities. Blackwater is expected to commence with a nominal milling rate and expand to full capacity by year 11. Conventional open pit mining methods will be used, initially targeting high-grade, near-surface ore for processing, with lower-grade material being stockpiled for processing at the end of the mine life.
Proven & Probable Mineral Reserves for the Blackwater project as of September 10, 2021, were estimated at 334.3 Mt grading 0.75 g/t gold and 5.8 g/t silver (NSR cut-off of C$13/t based on US$1,400/ oz gold and US$15/oz silver; with 93% metallurgical recovery for gold and 55% recovery for silver) and contained gold of 8.0 Moz gold and 62.2 Moz silver.
The next steps for the project will be focused on commencement of early works and construction activities as well as progressing with financing, permitting, and engagement work.
Agreement terms are subject to the closing of the Transactions as defined in the Company's press release dated May 2, 2022.
See press release for more details.