Detour Gold Corp.
Issue Fall 13
To say that Detour Gold Corp. is poised for big things in the near future may be a severe understatement. The Toronto-based gold mining company says it has good reason to believe that it may be sitting on Canada’s largest operating gold mine, and the company says the Detour Lake Mine in northeastern Ontario figures to be a huge part of its plans for the foreseeable future.
With the recent announcement that commercial gold production was reached in August, Detour Gold Corp. looks to be in good shape for the future. The company says its future success certainly will be determined by the reserves found at the Detour Lake Mine, but this is far from the only attribute that will guide the company’s future, it says. Thanks to the strength of its management team, its long-term plans and its skills, Detour Gold Corp. says it has what it takes to become one of the major players in the Canadian gold industry in a very short timeframe.
“Once the company declares commercial production, Detour Gold anticipates rapidly joining the rank of the mid-tier gold producers,” the company says. “The Detour Lake mine is expected to produce an average of 600,000 ounces of gold annually over the first 10 years, and 650,000 ounces over a mine life of 20-plus years.”
The Detour Lake Mine is Detour Gold Corp.’s sole asset, but the company says there is more than enough there to keep it busy for a very long time. The property is located about 185 kilometers from the small town of Cochrane in northeastern Ontario, and the property measures 630 square kilometers. The mine was operated by Placer Dome between 1983 and 1999, and during that time nearly 1.8 million ounces of gold were produced.
“The Detour Lake mine is designed as a year-round open-pit operation with a modern mining camp facility to host its future 500 employees,” the company explains. “The mine facilities have been designed to minimize the footprint using state-of-the-art technology to protect the environment and animal species of the area. Detour Gold is committed to operate Detour Lake to the highest environmental standards and bring long-lasting benefits to the communities in the region and to its partnerships with the local Aboriginal communities.”
According to Detour Gold, the Detour Lake Mine contains an open pit mineral reserve of 15.6 million ounces of gold. The company says the mine is expected to produce for more than 20 years, but it holds out the possibility that there could be more to come as production progresses. “At the Detour Lake deposit itself, the mine life could potentially be extended as the deposit is open along strike to the west and at depth,” the company says.
One of the key reasons that Detour Gold Corp. is optimistic about the future of the Detour Lake Mine is because it has a strong team of executives at the helm. “Detour Gold is led by a team of experienced and skilled mining professionals with strong track records of development and operational success,” the company says. “Our team is committed to advancing the Detour Lake mine into a successful large-scale open pit operation.”
Detour Gold Corp. says it is committed to developing and growing along with its Detour Lake Mine project, but the company says it also believes strongly in doing so responsibly. “At Detour Gold, responsible mining is more than a commitment; it is what we do every day,” the company says. “From planning to practice, we take responsibility for the use of the land and we actively work towards minimizing our ecological footprint to ensure a healthy future.”
From environmental and safety policies to community relations, Detour Gold Corp. says it is dedicated to being a responsible member of the gold mining community. “Our corporate responsibility initiatives for the health and safety of our employees, the well-being of our community and the protection of the natural environment are driven by a pro-active approach supported by monitoring systems and integrated programs with the goal of achieving successful project development, sustainable operations and effective mine closure,” the company says.