Company has received permit for its mine in Red Lake, Ontario, which features a processing production limit of up to 1,089 tonnes per day.

PwC says Canadian miners played a key role in delivering a successful year for the world’s biggest mining companies in 2019.

Bullion has surged nearly 22% this year and is now within $70 of an all-time high.

Strategy entails consolidating production to one mine portal from five and reducing the mining rate to 1,200 tonnes per day.

Increased investor demand for gold coupled with a constrained supply has led to high prices and a bullish market.

The resource includes 539,000 indicated tonnes grading 14 g/t, containing 244,000 gold oz., as well as 942,000 inferred tonnes, at 13.3 g/t gold, for a further 402,000 oz. of gold.

Company has added 230 sq. km of land holdings, or 422 claims, to its Troilus project in the province’s Frotet-Evans greenstone belt.

The campaign in Manitoba will complete up to 1,500m of drilling at the project to test two newly identified Borehole Pulse Electromagnetic anomalies.