Northern Ont. is officially home to Canada's newest gold mine
Argonaut Gold says it achieved its first gold pour at the company's Magino Mine in northern Ontario on June 14.
Magino is Argonaut's first Canadian operation and is located in Dubreuilville, located about 300 kilometres north of Sault Ste. Marie and just under 500 kilometres east of Thunder Bay.
"We are proud of the Argonaut team for delivering Canada's newest gold mine. The Magino mine is key to achieving our vision to become a low-cost, mid-tier North America gold producer that … proudly demonstrates responsible mining,” said Richard Young, president and CEO of Argonaut Gold, in a news release Thursday.
- Download the CTV News app now and get local alerts on your device
- Get local breaking news and updates sent to your email inbox
The ramp-up of the processing plant remains on schedule with commercial production expected later this year.
"With the first gold pour milestone behind us, we are now focused on completing commissioning and ramping up the mill to steady state,” said Marc Leduc, the company’s chief operating officer.
“In addition, we are looking to further grow our flagship gold mine as we commence a reserve development drilling program intending to increase reserves in combination with studies to expand and optimize mill throughput, both scheduled to begin later this summer."
The company said the mine is expected to produce as much as 81,000 ounces of gold in 2023 and approximately 148,000 ounces of gold in 2024, its first full year of production.
The reserves development program that is projected to start later this summer will take 12 to 15 months to complete according to company officials. The program will look to expand the mining project by converting open pit resources to reserves within the mine’s current structures and testing deep underground high-grade targets and open pit targets to the west of the current deposit.
Officials said a review of mill optimization and expansion opportunities will also be commenced this summer to potentially raise throughput rates and increase annual production.
Argonaut says it plans to be mining in the area until 2040.
For more information on the Magino Mine project, visit Argonaut Gold’s website.
CTVNews.ca Top Stories
Prime minister faces mounting pressure to step aside from inside caucus
Prime Minister Justin Trudeau will face mounting pressure from his caucus this week to step down from the leadership of the Liberal party.
Longueuil woman charged after 10-year-old boy scalded with boiling water
A woman from Montreal's South Shore appeared in court on Friday on charges of aggravated assault after allegedly scalding a 10-year-old boy with boiling water more than one week ago.
A vehicle dropping off a shooting victim struck 3 nurses, critically wounding 1
A vehicle fleeing a Philadelphia hospital after dropping off a gunshot victim early Saturday struck three nurses who were trying to treat the patient, injuring one critically, authorities said.
Possible Listeria contamination leads to the recall of Rana brand sauce: CFIA
The Canadian Food Inspection Agency (CFIA) has issued a recall for Rana brand Tagliatelle Seasoned White Chicken and Mushroom sauce, citing possible Listeria contamination.
Study finds too many Quebec seniors being overprescribed inappropriate medications
A Montreal study found that many seniors are being overprescribed inappropriate medications.
Data shows migrants aren’t taking jobs from Black or Hispanic people, despite what Trump says
Republican presidential nominee Donald Trump promises the biggest deportation event the U.S. has ever seen if he is elected — a promise he has predicated, in part, on the notion that immigrants in the U.S. legally and illegally are stealing what he calls 'Black jobs' and 'Hispanic jobs.'
Bloc won't hold Liberals 'hostage' over seniors' benefits: cabinet minister
Liberal cabinet minister Steven Guilbeault says the Liberals will not be 'held hostage' by the Bloc Quebecois' demand to expand Old Age Security to more seniors.
Report says at least 55 children died or disappeared at B.C. residential school
A British Columbia First Nation says at least 55 children died or disappeared while attending a residential school near Williams Lake, more than triple the number recorded for the institution in the National Centre for Truth and Reconciliation memorial register.
What's behind the northern lights that dazzled the sky farther south than normal
Another in a series of unusually strong solar storms hitting Earth produced stunning skies full of pinks, purples, greens and blues farther south than normal, including into parts of Germany, the United Kingdom, New England and New York City.