Canada’s Kinross Gold Corporation has provided an update on its development plan at the company’s Red Lake, Ontario-based Great Bear project following the finalisation of the acquisition of Great Bear Resources Ltd. in late February.
Kinross says it plans to declare an initial inferred mineral resource as part of the miner’s 2022 year-end results, and launch a pre-feasibility study (PFS) in 2023.
The Canadian miner “expects to complete approximately 200,000 metres of drilling using approximately 10 drill rigs in 2022, focusing on the LP Fault zone, the most significant discovery to date at the project,” Kinross said in a statement.
“To prepare for the planned PFS, Kinross is commencing critical field work including metallurgy, hydrology and geotechnical drilling and test work, as well as permitting baseline studies. Kinross is budgeting approximately US$60 million (C$75 million) for project activities this year,” according to the statement.