The asset, discovered in 2006, is expected to produce to 4.6 million ounces of gold over a 15 year mine life. That’s 73,000 ounces more than what was indicated in the previous estimate.
The move also expands Kirkland’s ownership of interest in the Urban Barry area of northwestern Quebec, which the company believes to be “highly prospective mining camp" in Canada.
Company won’t have to cut output at its central BC-based copper-gold mine, at least for now, as it has been granted approval to use certain short-term water sources.