EXPLORATION

HAMMOND REEF

UPPER BEAVER

DETOUR LAKE UNDERGROUND

EXPLORATION STRATEGY

We focus on building a portfolio of high-quality assets in premier jurisdictions that offer superior geological potential and low political risk.

Our team of highly skilled geologists is dedicated to growing our exploration and development pipeline, with a focus on low-risk, high geological potential regions where projects and mines can drive the future of our business. Our goal is to ensure we develop a best-in-class project pipeline to replenish mineral reserves and production, while maintaining the quality, manageability and fit of our future portfolio.

EXPLORATION SITES

HAMMOND REEF

Atikokan, Northwestern Ontario, Canada
  • A high tonnage, low grade gold deposit located in the Thunder Bay Mining District of Northwestern Ontario, with potential for development into an open pit operation with conventional milling that could produce approximately 272,000 oz. of gold per year.
  • At December 31, 2023, open pit probable mineral reserves were estimated to be 3.3 million oz. of gold (123.5 million tonnes grading 0.84 g/t gold), measured mineral resources were estimated to be 819,000 oz. of gold (47.1 million tonnes grading 0.54 g/t gold) and indicated mineral resources were estimated to be 1.5 million oz. of gold (86.3 million tonnes grading 0.53 g/t gold).
  • The project has received environmental approval from both federal and provincial governments. Additional federal and provincial permits would be required to begin construction activities.
  • While the Company has not approved the project for development, studies continue to optimize the project and further advance the final permits required for construction and operation.
             
KEY FACTS
OWNERSHIP 100%
LOCATION Northwestern Ontario, 30 km northeast of Atikokan and 260 km west of Thunder Bay
METAL Gold
STAGE Care & maintenance with internal studies ongoing to optimize project and further advance permits

UPPER BEAVER

Kirkland Lake camp, northeastern Ontario, Canada
  • The Upper Beaver gold-copper project is part of the Company’s exploration portfolio in the Kirkland Lake camp of northeastern Ontario, which includes the Upper Canada and Anoki-McBean deposits.
  • At June 30, 2024, indicated mineral resources were estimated to be 3.4 million oz. of gold and 71 thousand tonnes of copper (30.9 million tonnes grading 3.47 g/t and 0.23% copper) and inferred mineral resources were estimated to be 0.4 million oz. of gold and 11 thousand tonnes of copper (3.0 million tonnes grading 4.13 g/t and 0.36% copper).
  • A new internal evaluation of the project was completed in June 2024.
             
KEY FACTS
OWNERSHIP 100%
LOCATION Kirkland Lake camp in northeastern Ontario, 27 km east of Macassa mine
METAL Gold and Copper
STAGE Advanced Exploration and Studies

DETOUR LAKE UNDERGROUND

Northeastern Ontario

The Underground Project is located on the west side of the open pit, within the Detour Lake mining permit, and it will benefit from the existing infrastructure at the Detour Lake site, including tailing storage facilities area, processing plant and maintenance facilities. The Underground Project will share the same operating philosophy as the Detour Lake mine as a low-grade, high-volume operation, with a focus on cost control and continuous improvement. The preliminary mine concept adopts many of the design criteria and parameters of the Company’s existing high-volume underground mines in the Abitibi region. Also, as a brownfield project, the Company believes the Underground Project inherently has lower execution risk given the reduced permitting timeline, existing relationships with Indigenous communities and an experienced workforce in place.