What Evolution Mining plans to do with its latest catch in Red Lake will be revealed to all in September.
The Australian miner announced its wrapped up its acquisition of Battle North Gold and its turn-key Bateman gold mine project in the northwestern Ontario mining camp. All conditions of the sale have been satisfied, the company said.
Last March, Evolution announced it was acquiring Battle North for $343 million.
They get a ready-to-go underground gold mine with a mill and all the surface infrastructure, a gold deposit with an eight-year mine life, the 28,000 hectares it sits on, plus a large gold exploration property on the Nevada-Utah border in the U.S.
The Bateman project is 10 kilometres northeast of Evolution's Cochenour Mine.
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In a May 20 news release, Evolution said it intends to provide further details by September on how it plans to integrate Bateman into its significantly larger Red Lake operations with a new life-of-mine plan.
“This acquisition provides Evolution with an opportunity to expand our footprint in the region and create value by leveraging the infrastructure of the two operations," said Evolution executive chairman Jake Klein in a news release.
"The additional processing capacity from the new Bateman mill will also accelerate our ability to achieve our objective of producing in excess of 300,000 ounces of gold per annum from Red Lake. In the 12 months that we have been operating at Red Lake we have demonstrated that we are a committed steward of the region.
"This expansion of our footprint will provide us with an opportunity to build on our track record as a safe and sustainable operator for the long term benefit of a broad range of stakeholders including the local workforce, regional communities and our Wabauskang and Lac Seul First Nation partners.”
Klein wished outgoing Battle North CEO George Ogilvie and his team all the best in their future endeavours.
