Gold price

Kinross Gold making progress at Great Bear project in Ontario

Sep 24, 2022

By The Canadian Press

Tue., June 28, 2022 timer 1 min. read

TORONTO - Kinross Gold Corp. says it is making progress at its Great Bear project in Ontario and expects to declare an initial mineral resource as part of its 2022 year-end results.

In an update on the project and others in the U.S., the gold miner says it expects the initial mineral estimate to be predominantly in the inferred resource category, with some indicated resources.

Kinross says its latest results continue to support its view of a high-grade, world-class deposit that underpins the prospect of a large, long-life mining complex.

The company also says feasibility study work is nearing completion at its 70 per cent-owned Manh Choh project in Alaska and results are expected to be disclosed ahead of schedule as part of its second quarter results.

Initial production is on schedule to begin in the fourth quarter of 2024, subject to permitting.

Kinross completed the sale earlier this month of its Russian assets to the Highland Gold Mining group of companies for US$340 million, half of what it had negotiated initially, after Russian authorities capped the price.

This report by The Canadian Press was first published June 28, 2022.

Companies in this story: (TSX:K)

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