SEATTLE (Scrap Monster): Sabina Gold & Silver Corp. provided an update on advancements of the Goose Mine development in Back River Gold District in Nunavut, Canada. The company’s recentr decision to move ahead on building the gold mine ensure that Nunavut would have a third operating gold mine by 2025.
The company has been advancing logistics, civil works, engineering and procurement over the past several years. It stated that it has completed all pre-development activities and that it is ready to commence full construction in 2023. It has made all arrangements for major equipment and materials required for construction. Also, the underground ramp will be sufficiently completed to enable underground drilling of the V2 zone in Q4 this year. Furthermore, the financing for the project has already been finalized.
Bruce McLeod, President & CEO noted that the company is excited to formally commit to becoming a significant Canadian gold producer. The first production from the mine is expected by Q1 2025. The pre-planning and accelerating procurement efforts has reduced its exposure to inflationary impacts and supply chain issues. Once developed, this could be the first mine on this prolific gold district, he added.
Sabina Gold & Silver Corp. has already submitted a regulatory package to the Nunavut authorities.