Detour Gold Corp., which operates one of Canada’s largest gold mines, north of Cochrane, Ontario, has provided guidance numbers for 2019.
Gold production for the full year will be between 570,000 and 605,000 ounces. The mine plan calls for roughly 115 million tonnes of muck from the pit in 2019.
Detour said its mill throughput is expected to range from 21.5 million to 22 million tonnes in 2019 at an estimated head grade of between 0.90 and 1.00 g/t of gold. The Gold recovery will range between 90.5 per cent and 91.5 per cent.
It also predicts that AISC (all-in sustaining costs) should range from US $1,175 to US$1,250 per ounce with total cash costs in the range of US $790 to US $840 per ounce.
Detour has also revealed a 2019 exploration budget of approximately $5 million to focus mainly on drilling and geophysical surveys at a number of key targets on the Detour Lake property. The company plans to complete approximately 2,500 metres of drilling to better define the northeast and western extensions of Zone 58N.
In addition, Detour said it plans to complete an internal scoping study this year to assess the viability of pursuing an underground exploration and bulk sampling program.
The information follows a widely publicized shake up in the company boardroom.
On January 3, the company announced the appointment of Bill Williams at interim CEO, replacing Michael Kenyon. The board had previously accepted Kenyon's notice of resignation in December.
Kenyon was actually voted off the board, along with board chair Alex Morrison and three others – the result of a proxy-battle led by U.S. billionaire John Paulson.
In a battle of news releases that took place in the summer and fall, Paulson’s company said change was needed owing to the fact that it has invested more than half a billion dollars in equity and debt financing, but saw only poor returns.
